NY Times Boasts 20% Jump In Digital Ads, Strong Q4 Guidance - New York Times (NYSE:NYT)

"The results were driven by growth across digital subscriptions, advertising, and licensing revenues, with improvements in profitability adding further investor confidence. Adjusted earnings per share came in at 59 cents. NY Times beat analyst expectations of 53 cents and up from 45 cents a year ago. Also Read: New York Times Gets New AI Partner For $20-$25 Million Revenue for the quarter reached $700.82 million, surpassing the $690.46 million consensus estimate and marking a nearly 9.5% increase year-over-year."

"The New York Times added ~460,000 net digital-only subscribers during the quarter, reaching 12.33 million total subscribers. Average revenue per user or ARPU for digital-only subscriptions rose 3.6% to $9.79, driven by the company's pricing changes. Digital subscription revenue increased 14% year over year. Digital advertising revenue rose 20.3%, supported by strong marketer demand and new advertising supply. Affiliate, licensing, and other revenues increased 7.9% due to higher licensing revenues."

"The company projects digital-only subscription revenue to rise between 13% and 16%, while total subscription revenue is expected to increase by 8% to 10%. Digital advertising revenue is forecast to grow in the mid-to-high teens range, and total advertising revenue is anticipated to expand in the high single- to low double-digit range. Affiliate, licensing, and other revenues are projected to grow at a mid-single-digit pace. Adjusted operating costs are expected to increase between 6% and 7%."

The New York Times Company reported stronger-than-expected third-quarter results, with adjusted EPS of $0.59 versus $0.53 expected and $0.45 a year earlier. Quarterly revenue reached $700.82 million, up about 9.5% year-over-year and exceeding the $690.46 million consensus. The company added roughly 460,000 net digital-only subscribers, bringing total subscribers to 12.33 million, while digital-only ARPU rose 3.6% to $9.79. Digital subscription revenue grew 14% and digital advertising revenue increased 20.3%, with affiliate and licensing revenue up 7.9%. The company projects continued strong growth for digital subscriptions and advertising in the coming quarter, with modest operating cost increases.

Read at Benzinga