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New York Times Says Ad Slide Has Halted

Thursday, 22 Jul 2010 08:58 AM

 

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The New York Times Co. says its advertising revenue stopped falling for the first time in years during the second quarter. Digital ad sales helped offset another decline in print.

It's a significant milestone because the publisher of The New York Times, The Boston Globe, the International Herald Tribune and 15 other daily newspapers pays most of its bills by selling ads.

The company's net income fell 18 percent from a year ago, when it booked a big one-time tax gain.

It earned $32 million, or 21 cents per share, in the latest quarter. That compares with $39.1 million, or 27 cents per share, a year ago.

Revenue climbed 1.2 percent to $590 million.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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