NYT Q4 2022 Earnings Report
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
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