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Sep 25, 2022
NYT Q3 2022 Earnings Report
The New York Times Company reported an increase in operating profit and digital-only subscription revenue, driven by growth in digital subscriptions and the inclusion of The Athletic.
Key Takeaways
The New York Times Company reported a 7.6% increase in total revenue, reaching $547.7 million. Operating profit increased to $51.0 million, and the company added 180,000 net digital-only subscribers. The company is improving its outlook for full-year 2022 results and expects adjusted operating profit between $320 and $330 million.
Total revenue increased by 7.6% year over year to $547.7 million.
Operating profit increased to $51.0 million from $49.0 million in the same period of 2021.
The Company ended the third quarter of 2022 with approximately 9.33 million paid subscribers.
Digital-only subscription revenue increased 22.8% to $243.9 million.
Revenue by Segment
Forward Guidance
The Company’s guidance for revenue and operating costs for the fourth quarter of 2022 compared with the fourth quarter of 2021.
Positive Outlook
- Digital-only subscription revenues increase approximately 20%
- Total subscription revenues increase 10 - 13%
- Other revenue increase low-single digits
Challenges Ahead
- Digital advertising revenues decrease approximately 10%
- Total advertising revenues decrease approximately 10%
- Adjusted operating costs approximately flat
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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