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Dec 31, 2023
NYT Q4 2023 Earnings Report
NYT's Q4 2023 results reflected growth in digital subscriptions and ARPU, offset by a decrease in advertising revenue.
Key Takeaways
The New York Times Company reported a 1.3% increase in total revenue for Q4 2023, driven by growth in digital subscriptions and other revenues, which was partially offset by a decline in advertising revenue. The company added 300,000 net digital-only subscribers. Operating profit increased by 38.7% year-over-year. Diluted earnings per share increased to $0.66.
Added approximately 300,000 net digital-only subscribers compared with the end of the third quarter of 2023.
Total digital-only ARPU grew 3.5 percent year-over-year to $9.24.
Digital advertising revenues decreased 3.7 percent year-over-year.
Operating profit increased 38.7 percent year-over-year to $129.0 million.
Revenue by Segment
Forward Guidance
The Company’s guidance for revenues and adjusted operating costs for the first quarter of 2024 compared with the first quarter of 2023.
Positive Outlook
- Digital-only subscription revenues increase 11 - 14%
- Total subscription revenues increase 7 - 9%
- Digital advertising revenues increase low-to-high-single-digits
- Other revenue increase mid-single-digits
- Depreciation and amortization: approximately $80 million
Challenges Ahead
- Total advertising revenues decrease mid-single-digits
- Adjusted operating costs increase 5 - 7%
- Interest income and other, net: approximately $30 million
- Capital expenditures: approximately $50 million.
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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