New York Times Revenue Slides on Ad, Circulation Drop
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New York Times Co., publisher of the namesake newspaper, posted third-quarter sales that fell short of analysts’ estimates as advertising and circulation revenue declined.
Third-quarter sales slid 2.7 percent to $554.3 million, the New York-based company said today in a statement. Analysts had predicted $558.8 million on average, according to a Bloomberg survey. Times Co. also reported earnings that topped estimates as pension expenses declined.