Tags: new york times | earnings | profit | cost cuts

Cost Cuts Push up New York Times Profit

Thursday, 30 Apr 2015 06:02 AM

New York Times Co. reported a 4.6 percent rise in quarterly adjusted operating profit despite dwindling print ad sales as cost-cutting initiatives paid off.

The company said in October it would cut about 7.5 percent of its newsroom positions and shut its mobile app, NYT Opinion, to compensate for a fall in advertising revenue and as new digital products failed to live up to expectations.

Adjusted operating profit rose to $59.2 million in the first quarter from $56.6 million a year earlier.

Excluding items, earnings from continuing operations rose to 11 cents per share from 7 cents.

Revenue fell to $384.2 million from $390.4 million.

© 2017 Thomson/Reuters. All rights reserved.

 
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New York Times Co. reported a 4.6 percent rise in quarterly adjusted operating profit despite dwindling print ad sales as cost-cutting initiatives paid off.The company said in October it would cut about 7.5 percent of its newsroom positions and shut its mobile app, NYT...
new york times, earnings, profit, cost cuts
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2015-02-30
Thursday, 30 Apr 2015 06:02 AM
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