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New York Times Shares Fall as Ad Sales, Circulation Decline

New York Times Co., publisher of the namesake newspaper, fell after reporting first-quarter revenue that trailed analyst estimates as advertising sales and circulation declined.

Revenue dropped to $566.5 million from $587.9 million a year earlier, the New York-based company said in a statement today. Analysts had projected $569 million, according to the average estimate from a Bloomberg survey. Earnings per share, excluding one-time expenses, were 2 cents, meeting analysts’ estimates.