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Dec 26, 2021
NYT Q4 2021 Earnings Report
NYT reported strong Q4 2021 earnings, driven by growth in digital subscriptions and advertising revenue, and announced the acquisition of The Athletic.
Key Takeaways
The New York Times Company announced strong fourth-quarter 2021 results, with diluted earnings per share of $0.41, up from $0.06 in the same period of 2020. Total revenue increased by 16.7% to $594.2 million, driven by growth in subscription and advertising revenues. The company surpassed 10 million subscriptions with the acquisition of The Athletic and set a new subscriber target of at least 15 million by year-end 2027.
Total revenues increased by 16.7% to $594.2 million.
The Company posted 375,000 net new digital subscriptions, 171,000 of which came from News.
Operating profit increased to $94.1 million.
The Company surpassed 10 million subscriptions, well ahead of its stated goal of reaching that milestone by 2025.
Revenue by Segment
Forward Guidance
The Company’s guidance for revenue and operating costs for the first quarter of 2022 compared to the first quarter of 2021, both including and excluding the impact of The Athletic, which will be consolidated in the results from yesterday’s closing or approximately two-thirds of the quarter:
Positive Outlook
- Digital-only subscription revenues increase 18% - 21% (excluding The Athletic)
- Total subscription revenues increase 9% - 11% (excluding The Athletic)
- Digital advertising revenues increase 18% - 22% (excluding The Athletic)
- Total advertising revenues increase 16% - 20% (excluding The Athletic)
- Other revenue increase 15% - 20%
Challenges Ahead
- Operating costs increase 13% - 15% (excluding The Athletic)
- Adjusted operating costs increase 13% - 15% (excluding The Athletic)
- The Athletic had operating losses of approximately $55 million in 2021 on approximately $65 million in revenue
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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