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Jun 30, 2024
NYT Q2 2024 Earnings Report
NYT's Q2 2024 was marked by subscriber growth, ARPU increase, and digital advertising revenue gains.
Key Takeaways
The New York Times Company reported a strong second quarter in 2024, with significant growth in digital-only subscribers, increased digital ARPU, and higher digital advertising revenues. The company's operating profit also saw a substantial increase, driven by growth in digital subscriptions.
Added approximately 300,000 net digital-only subscribers compared to Q1 2024.
Total digital-only ARPU increased 2.1 percent year-over-year to $9.34.
Digital subscription revenues increased 12.9 percent year-over-year.
Digital advertising revenues increased 7.8 percent year-over-year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The New York Times Company provided guidance for the third quarter of 2024, with expectations for revenue and adjusted operating costs compared to the third quarter of 2023.
Positive Outlook
- Digital-only subscription revenues are expected to increase by 12-15%.
- Total subscription revenues are expected to increase by 7-9%.
- Digital advertising revenues are expected to increase in the high-single-digits.
- Total advertising revenues are expected to be flat to increase in the low-single-digits.
- Other revenue is expected to increase by 9-11%.
Challenges Ahead
- Adjusted operating costs are expected to increase by 5-6%.
- Depreciation and amortization are expected to be approximately $80 million on a pre-tax basis in 2024.
- Interest income and other, net, are expected to be approximately $35 million on a pre-tax basis in 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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