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Sep 30, 2024
NYT Q3 2024 Earnings Report
NYT's Q3 2024 results were announced, showcasing subscriber growth and increased digital revenue.
Key Takeaways
The New York Times Company reported a strong third quarter, marked by a significant increase in digital-only subscribers and a rise in total revenue. The company surpassed 11 million total subscribers, driven by growth in both digital subscribers and ARPU, leading to a 14.2% increase in digital subscription revenues. Digital advertising revenues also saw an increase of 8.8% year-over-year.
Added approximately 260,000 net digital-only subscribers, reaching a total of 11.09 million.
Total digital-only ARPU increased 1.8% year-over-year to $9.45.
Digital subscription revenues increased 14.2% year-over-year.
Digital advertising revenues increased 8.8% year-over-year.
NYT
NYT
NYT Revenue by Segment
Revenue by Segment
Digital-only Subs Revenue
CapyFin.comDigital Ads Revenue
CapyFin.comPrint Ads Revenue
CapyFin.comNYTG Subs Revenue
CapyFin.comNYTG Ads Revenue
CapyFin.comNYTG Other Revenue
CapyFin.com Forward Guidance
The company provided guidance for the fourth quarter of 2024, with expectations for revenue and adjusted operating costs compared to the fourth quarter of 2023.
Positive Outlook
- Digital-only subscription revenues are expected to increase by 14-17%.
- Total subscription revenues are expected to increase by 7-9%.
- Digital advertising revenues are expected to increase in the high-single-digits to low-double-digits.
- Total advertising revenues are expected to increase in the low-single-digits.
- Other revenue is expected to increase by 11-13%.
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.
- Capital expenditures are expected to be approximately $35 million in 2024.
- Interest income and other, net, are expected to be approximately $35 million on a pre-tax basis in 2024.
- No specific negative forward looking statements were found.
Revenue & Expenses
Visualization of income flow from segment revenue to net income