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Dec 31, 2022
NYT Q4 2022 Earnings Report
NYT's Q4 2022 earnings were reported, with diluted EPS at $0.43 and adjusted diluted EPS at $0.59. The company saw a revenue increase of 12.3% to $667.5 million, driven by digital subscription growth. Subscriber growth continued, with 240,000 net digital-only subscriber additions.
Key Takeaways
The New York Times Company reported a 12.3% increase in total revenue for Q4 2022, reaching $667.5 million. Diluted EPS was $0.43, and adjusted diluted EPS was $0.59. The company added 240,000 net digital-only subscribers during the quarter, ending with 9.55 million total subscribers.
Total revenue increased by 12.3% year-over-year to $667.5 million.
Digital-only subscription revenue grew by 31.0% year-over-year to $269.2 million.
The company added 240,000 net digital-only subscribers in Q4 2022.
Adjusted operating profit increased to $141.8 million from $109.3 million in the prior 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 first quarter of 2023, expecting digital-only subscription revenues to increase by 13-16% and total subscription revenues to increase by 6-9%. Total and digital advertising revenues are expected to decrease in the low-single digits. Operating costs are projected to increase by 6-8%.
Positive Outlook
- Digital-only subscription revenues to increase 13 - 16%
- Total subscription revenues to increase 6 - 9%
- Other revenue to increase mid-single digits
- Depreciation and amortization: approximately $90 million
- Interest income and other, net: approximately $9 million to $11 million
Challenges Ahead
- Total advertising revenues to decrease low-single digits
- Digital advertising revenues to decrease low-single digits
- Operating costs to increase 6 - 8%
- Adjusted operating costs to increase 6 - 8%
- Capital expenditures: approximately $50 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income