Tags: new york times | profits | circulation | rise

Circulation, Profits Up for 'Failing' New York Times

Image: Circulation, Profits Up for 'Failing' New York Times
(AP)

By    |   Thursday, 27 Jul 2017 11:27 AM

President Donald Trump repeatedly claims The New York Times is failing — but a new earnings report suggests the exact opposite.

On Thursday, The Times revealed its financials for the second quarter of 2017, showing that increasing digital growth brought in $407 million in revenue. That figure beat Wall Street predictions.

The Times' business reporter Sydney Ember reported that the news giant had "its strongest quarters in recent years, as rising digital advertising revenue and new online subscriptions offset continued declines in print advertising."

Including subscriptions for its crossword product, The Times said it now has more than 2.3 million total digital-only subscriptions.

And for the first time, its digital-only subscription revenue of $83 million exceeded its print advertising revenue of $77 million.

The Times also said advertising revenue in the second quarter rose 23 percent, to $55 million, representing nearly 42 percent of total advertising revenue, compared to 34 percent in the same quarter in 2016.

On Thursday morning, Trump continued his war of words with The Times, tweeting:

Times brass believe the ongoing controversies surrounding Trump and his administration have actually helped the paper grow.

Earlier this year, The Times launched a circulation-boosting campaign with the slogan, "Truth. It's more important now than ever." That prompted Trump to fire off the tweet:

That tweet actually delighted The Times, with Chief Executive Mark Thompson saying the campaign "struck a chord not just in America but around the world … [and] even the president of the United States was kind enough to draw attention to it."

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President Donald Trump repeatedly claims The New York Times is failing - but a new earnings report suggests the exact opposite.
new york times, profits, circulation, rise
307
2017-27-27
Thursday, 27 Jul 2017 11:27 AM
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