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.
Sadly if they just reported the news and not the liberal tripe they push, they would be more than profitable.
Take a lesson ABC, NBC, CBS. Slighting their stockholders in the name of a failed agenda.
Gee, I wonder what the problem is?
All the news that fits gets printed
A little advice for ya Pinch – when yer selling buggy whips stop beating the dead horse with them!
A little more advice: Consider selling real news for a change!
One last word of advice: It’s terrible for the image to have Hillary Clinton’s voice come out every time you open yer mouth!
I guess this explains the 10,000 emails I get from them every month wanting me to re-subscribe at a 75% rate reduction (for a limited time, of course). I made the mistake of taking them up on a similar offer a few years ago because they have a great Sunday puzzle page, and they’ve been nagging me ever since.
The New Yawk Slime, The Bird Cage Liner of Record, can’t go bankrupt quickly enough.
You can buy puzzle page books in Barnes & Noble. Don’t fund the New York Times, they have nothing but contempt for you.
The free market is a bitch that way. Bawhawhawhaw
This is a time when “shadenfreude”
can be joyously shameless.
Sorry. Can’t line a birdcage or wrap fish with the digital version. Therefore you’ve rendered yourselves useless.
The Pravda/Granma of New York.
Goebbels would be proud.
izlamo delenda est …
95.7% of nothing is still nothing.
@Ironycurtain: You buy your puzzles where you want, I’ll buy mine where I want.
Anyway, I found a site where I can get the NYT puzzles for free, so the point is moot.