NYT Q3 2022 Earnings Report
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.
NYT
NYT
NYT 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