New York Times Shares Jump as Subscribers Top 10 Million
- Bundle offering with Games, Cooking and sports led to growth
- Company expects a tougher ads market in current quarter
This article is for subscribers only.
New York Times Co. shares jumped after reporting better-than-expected results for the third quarter, with total subscribers to the news giant passing 10 million.
Adjusted earnings rose to 37 cents a share, the company said in a statement Wednesday, beating the 29-cent average of estimates compiled by Bloomberg. Sales rose 9.3% from the year prior to $598.3 million, exceeding expectations of $589.8 million.