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BtoB

New York Times Co. reports lower Q3 profit, revenue

Published on .

New York—The New York Times Co., in a preliminary report released Thursday, said its third-quarter operating profit fell to $10.0 million from $28.1 million in the year-earlier period.

Total revenue decreased 8.9% to $687.0 million, from $754.4 million. Advertising revenue decreased 14.4%; circulation revenue increased 1.0%; and other revenue declined 4.2%.

“Online advertising grew 10.2% in the quarter, in part due to the introduction of new ad formats. In total, our online revenues now account for 12.4% of the company’s revenue,” Janet L. Robinson, New York Times Co. president-CEO, said in a statement.

—Sean Callahan

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