New York Times Shares Fall on Decline in Advertising Revenue
- Paper gains 67,000 digital news subscribers, most in 3 years
- Ad revenue falls 6.8% as print and digital sales drop
This article is for subscribers only.
New York Times Co. fell the most in more than two months as the newspaper publisher reported a decline in both print and digital advertising in the first quarter.
The stock slid 4.3 percent to $12.33 at 1 p.m. in New York, and dropped as low as $12.32 in its biggest intraday decline since Feb. 24. The company, which reported first-quarter results Tuesday, said total ad sales fell 6.8 percent, dragged down by a 9 percent drop in print ad sales and a 1.3 decrease in digital ad sales.