- New York Times press release ( NYSE: NYT ): Q4 Non-GAAP EPS of $0.59 beats by $0.16 .
- Revenue of $667.5M (+12.3% Y/Y) beats by $20.69M .
- Subscription revenues increased 17.9 percent to $414.1 million, advertising revenues increased 1.4 percent to $179.2 million and other revenues increased 12.1 percent to $74.3 million. Excluding the impact of the additional six days, estimated total revenues increased 7.2 percent, with subscription revenues up 11.6 percent, advertising revenues down 2.4 percent and other revenues up 9.4 percent.
- The Company’s Board of Directors declared a $.11 dividend per share on the Company’s Class A and Class B common stock, an increase of $.02 from the previous quarter. The dividend is payable on April 20, 2023, to shareholders of record as of the close of business on April 5, 2023.
- The Board of Directors also approved a new $250 million Class A share repurchase program.
- 1Q23 Outlook:
- Digital-only subscription revenues increase 13 - 16%
- Total subscription revenues increase 6 - 9%
- Digital advertising revenues decrease low-single digits
- Total advertising revenues decrease low-single digits
- Depreciation and amortization: approximately $90 million, which includes approximately $29 million of acquired intangible assets amortization largely related to the acquisition of The Athletic,
- Interest income and other, net: approximately $9 million to $11 million, and
- Capital expenditures: approximately $50 million.
For further details see:
New York Times Non-GAAP EPS of $0.59 beats by $0.16, revenue of $667.5M beats by $20.69M