New York Times Co. issues lower earnings guidance

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New York—The New York Times Co. Wednesday provided first-quarter earnings guidance sharply below last year’s levels. The company announced that first-quarter diluted earnings per share are expected to be 22 cents to 24 cents, compared with 76 cents in the same quarter last year, which included a gain of 46 cents per share from the sale of the company’s headquarters and another property. The company also reported February revenue of $179 million, up 3.7% from a year earlier.

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