New York Times Exceeded Expectations in the Last Quarter

The New York Times exceeded the expectations in the last quarter. The earnings were recorded as 509.5 million dollars.

The New York Times earned more than expected in the last quarter. Times' 4th quarter revenue was $ 509.5 million, exceeding analysts' expectations. Thanks to growth in digital subscribers after the elections, it gained 40 cents per share in the last quarter, beating analysts' expectations of 34 cents. The number of subscribers saw over 7.5 million. Wall Street analysts 'expectations of $ 498.3 million on the New York Times' revenue fell short of the announced earnings. So much so that the Times' revenue was recorded as 509 million dollars. While the New York Times gained 627 thousand new subscribers in the fourth quarter of 2020, analysts had an estimated 559 thousand subscribers. The company's advertising revenue declined 19 percent year on year to $ 139.3 million, while subscriber revenue rose 15 percent to $ 315.8 million. While the company closed the last quarter with a total of 7.52 million subscribers, the number of digital subscribers alone saw 6.69 million. Investors will watch closely whether the Times will continue to increase its digital subscribers after Donald Trump loses the US presidency to Biden. Many observers expect the interest in the news to decline after Trump, but so far there is no concrete indication of this. The New York Times' digital advertising revenues declined by 2.3 percent, while print advertising revenues fell 38 percent as marketers restricted spending due to the coronavirus outbreak. The New York Times shares gained 59 percent in 2020.