New York Times Co. warns on profits

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New York--Citing a softer advertising market, The New York Times Co. Tuesday warned that its first-quarter profits would be down from last year. The publishing company said it still expects to achieve its target of 10% to 15% earnings growth for the full year. It expects to report first-quarter earnings from operations of 35 to 38 cents a share, down from 47 cents a share in 2000. It said ad revenue likely will pick up in the second half of the year as the overall economy accelerates.
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