2023-05-10 07:09:27 ET
- New York Times press release ( NYSE: NYT ): Q1 Non-GAAP EPS of $0.19 beats by $0.02 .
- Revenue of $560.74M (+4.3% Y/Y) misses by $8.44M .
- CEO comment: “We added 190,000 net new digital subscribers, bringing our total to more than 9.7 million. While advertising continues to experience near-term, cyclical challenges, our bundle strategy is gaining momentum, engagement metrics are strong, pricing initiatives are taking hold and we are slowing cost growth."
- Q2 Outlook : Digital-only subscription revenues increase 12% - 15%; Total subscription revenues increase 6% - 8%; Digital advertising revenues decrease low-to-mid-single digits; Total advertising revenues decrease 4% - 8%; Other revenue increase high-single digits; Operating costs increase 6% - 8%; Adjusted operating costs increase 6% - 8%.
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New York Times Non-GAAP EPS of $0.19 beats by $0.02, revenue of $560.74M misses by $8.44M