#1 New York Times reports 95.7 percent fall in quarterly profit [won't be long now! TM] by ThirstyMan 03.11.2016 01:00

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2 November 2016

The New York Times Co reported a 95.7 fall in quarterly profit, hit by restructuring charges related to headcount reductions.
Net profit attributable to the newspaper publisher fell to $406,000, or break-even per share, in the third quarter, from $9.4 million, or 6 cents per share, a year earlier.
Revenue fell to $363.6 million from $367.4 million.
The company, struggling to transition to digital, said online ad revenues grew 21.5 percent and now account for more than 35 percent of its advertising receipts.

But that increase failed to offset an 18.5 percent drop in print ad revenues -- a situation faced by most traditional newspaper publishers.
The Times added 129,000 paid digital-only subscribers in the quarter, helping lift revenue for that segment by around three percent.
'This quarter proved yet again that the New York Times has a very compelling digital revenue story to tell,' said Mark Thompson, president and chief executive officer, in a statement.
'We saw exceptional gains in our digital consumer business... more than twice as many as the same quarter last year and far more than any quarter since the pay model launched in 2011.'
Thompson added that the company also faced 'real pressure on print advertising both for us and for the rest of the industry.'

Read more: http://www.dailymail.co.uk/news/article-...l#ixzz4OuoTjoze

DANG!!!

The formula for success is so simple!!! Be fair and present both sides on any issue.

STOP trying to twist the news to suit the partisan needs of the Democrat Party!!!

Americans want their news without your bias!!! We are so sick of Your elitist condescension!!! TM

#2 RE: New York Times reports 95.7 percent fall in quarterly profit [won't be long now! TM] by Cincinnatus 03.11.2016 01:44

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The NYT has always been Liberally biased.

I'm glad to see its earnings have dropped dramatically even if it appears the drop was the result of an accounting procedure (the sort of thing Trump did years ago which sent Liberals into hysterics).

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