The earnings call reflected a strong performance in digital subscription and advertising revenue, along with strategic growth in subscribers and free cash flow generation. However, challenges include continued declines in print revenue, platform-driven audience headwinds, and potential disruptions from a technology union strike.

Company Guidance

During the third quarter of 2024 earnings call for The New York Times Company, the executives highlighted several key metrics and strategic achievements. The company surpassed 11 million total subscribers, with over 5 million subscribers opting for the bundle or multiple product subscriptions. Digital subscription revenue experienced a growth acceleration of over 14% year-on-year, while digital advertising revenue increased by about 9%. The company reported an overall revenue growth of approximately 7%, with adjusted operating profit (AOP) growing 16% year-over-year, leading to an AOP margin expansion of approximately 130 basis points to 16.3%. Free cash flow for the first nine months of the year reached approximately $238 million. The executives also noted strong subscriber engagement, with the share of subscribers visiting The Times each week reaching its highest level since 2020. The company is on track for another year of higher AOP and margin expansion, as well as strong free cash flow generation, with a focus on strategic investments in journalism and digital products.

Digital Subscription Revenue Growth

Digital subscription revenue growth accelerated to more than 14% year-on-year, contributing to healthy growth in total revenue.

Increase in Total Subscribers

The New York Times passed 11 million total subscribers, with 260,000 net new digital subscribers added in the quarter.

Strong Digital Advertising Revenue

Digital advertising revenue increased by nearly 9% in the quarter, reflecting strong performance across lifestyle products.

Growth in Adjusted Operating Profit

Adjusted operating profit grew by approximately 16% year-over-year, with AOP margin expanding by approximately 130 basis points to 16.3%.

Free Cash Flow and Shareholder Returns

The company generated approximately $238 million of free cash flow in the first nine months of the year and returned approximately $122 million to shareholders.

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New York Times (NYT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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NYT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 08, 2018	2018 (Q2)	- / 0.17	0.18	-5.56% (>-0.01)	―	―
Nov 01, 2018	2018 (Q3)	- / 0.15	0.13	15.38% (+0.02)	―	―
Feb 06, 2019	2018 (Q4)	- / 0.32	0.073	338.36% (+0.25)	―	―
May 08, 2019	2019 (Q1)	- / 0.20	0.17	17.65% (+0.03)	―	―
Aug 07, 2019	2019 (Q2)	- / 0.17	0.17	0.00% (0.00)	―	―
Nov 06, 2019	2019 (Q3)	- / 0.12	0.15	-20.00% (-0.03)	―	―
Feb 06, 2020	2019 (Q4)	- / 0.43	0.32	34.37% (+0.11)	―	―
May 06, 2020	2020 (Q1)	- / 0.17	0.2	-15.00% (-0.03)	―	―
Aug 05, 2020	2020 (Q2)	- / 0.18	0.17	5.88% (<+0.01)	―	―
Nov 05, 2020	2020 (Q3)	- / 0.22	0.12	83.33% (+0.10)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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NYT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 04, 2024	$56.69	$52.32	-7.71%
Aug 07, 2024	$51.88	$53.66	+3.43%
May 08, 2024	$45.91	$47.39	+3.22%
Feb 07, 2024	$48.02	$44.50	-7.33%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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