Company beats profit estimates but falls short on revenue
- New York Times’ stock falls 3% after revenue misses estimates
- Net income increases to $109.9 million, beating expectations
- Adjusted earnings per share at 70 cents, surpassing consensus
- Digital-only subscribers increase by 300,000
- Total subscribers reach 10.4 million
- Company expects subscription revenue to rise in 2024
New York Times Co.’s stock fell 3% after the company reported fourth-quarter results. While the company beat profit estimates, revenue fell slightly short of expectations. Net income increased to $109.9 million, or 66 cents a share, surpassing the year-earlier period. Adjusted earnings per share came in at 70 cents, ahead of the consensus. The company added 300,000 net digital-only subscribers and saw a rise in average revenue per user. However, digital ad revenues declined, while other revenue increased. The company expects subscription revenue to rise in 2024. The stock has gained 32% in the last 12 months.
Public Companies: New York Times Co. (NYT)
Private Companies:
Key People:
Factuality Level: 8
Justification: The article provides specific financial information about New York Times Co.’s fourth-quarter performance, including net income, adjusted per-share earnings, revenue, and subscriber numbers. The information is based on the company’s official financial statements and is supported by data from FactSet. The article does not contain any irrelevant or misleading information, and there is no sensationalism or opinion masquerading as fact. The reporting is objective and focused on the financial performance of the company.
Noise Level: 7
Justification: The article provides financial information about New York Times Co.’s stock performance and earnings for the fourth quarter. It includes details about net income, adjusted per-share earnings, revenue, digital subscribers, and dividend. However, it lacks analysis or insights into long-term trends, antifragility, or accountability. The article stays on topic and supports its claims with data and examples, but it does not provide actionable insights or solutions.
Financial Relevance: Yes
Financial Markets Impacted: The stock price of New York Times Co. (NYT) fell 3% after the company reported slightly lower revenue for the fourth quarter.
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses the financial performance of New York Times Co. and its impact on the stock market. However, there is no mention of an extreme event.
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