New York Times Q2 Earnings Surge 41% with 300,000 New Digital Subscribers

Aug 7, 2024, 11:56 AM

The New York Times has exceeded Wall Street expectations for its second-quarter subscription revenue, driven by strong demand for its bundled content offerings. The company reported a 5.8% year-over-year increase in total revenue to $625.1 million and a 7.3% rise in subscription revenue to $439.3 million. Operating profit rose by 13.6% to $104.7 million, with overall earnings surging 41%. The Times added 300,000 digital subscribers in the quarter, bringing the total to nearly 11 million. Digital advertising revenue increased by 7.8% to $79.6 million, while losses from The Athletic decreased to $2.4 million.