NYT Q1 2022 Earnings Report
Key Takeaways
The New York Times Company's Q1 2022 saw a 13.6% increase in total revenue, driven by growth in digital subscriptions and advertising. The acquisition of The Athletic contributed to subscription numbers but also resulted in operating losses. The company ended the quarter with 9.1 million total subscribers and 10.4 million subscriptions.
Added 387,000 net digital subscribers, including The Athletic's additions.
Total subscribers reached 9.1 million, with 10.4 million subscriptions.
Overall revenue increased by 13.6%, with digital subscription revenue up approximately 26%.
Operating profit decreased due to acquisition costs and losses at The Athletic.
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NYT Revenue by Segment
Forward Guidance
The company provided guidance for Q2 2022, including revenue and operating cost expectations for The New York Times Group and The Athletic.
Positive Outlook
- Digital-only subscription revenues for NYT Group are expected to increase 16% - 18%.
- Total subscription revenues for NYT Group are expected to increase 7% - 9%.
- Total advertising revenues for NYT Group are expected to increase 2% - 5%.
- Other revenue for NYT Group is expected to increase mid-to-high single digits.
- Digital-only subscription revenues for The New York Times Company are expected to increase 23% - 27%.
Challenges Ahead
- Digital advertising revenues for NYT Group are expected to be flat to down low single-digits.
- Operating costs for The New York Times Company are expected to increase 19% - 23%.
- Adjusted operating costs for The New York Times Group are expected to increase approximately 12% to 15%.
- The Athletic is currently forecast a slight improvement in operating losses in 2022.
- Adjusted operating costs for The New York Times Company are expected to increase 18% - 22%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income