The New York Times Co. (NYSE: NYT) reported third-quarter earnings above expectations, driven by continued growth in its digital subscription business. Shares rose 2% in intra-day trading on Wednesday.
Adjusted earnings per share were $0.59, beating analyst estimates of $0.53. Revenue totaled $700.8 million, topping the $686.77 million consensus forecast. While the company did not specify year-over-year revenue growth, the strong performance underscored its ability to expand despite challenges in the broader media sector.
The New York Times continued to build its digital ecosystem beyond news, with offerings across games, cooking, sports, and shopping content. The company said its strategy to attract and retain engaged readers globally was paying off, reflecting its successful transformation from a traditional newspaper into a diversified digital media platform.
