New York Times (NYSE:NYT) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

New York Times (NYSE:NYT) released its earnings results on Wednesday. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.03, FiscalAI reports. The firm had revenue of $768.54 million during the quarter, compared to analysts’ expectations of $767.21 million. New York Times had a return on equity of 23.10% and a net margin of 13.41%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business posted $0.59 earnings per share.

Here are the key takeaways from New York Times’ conference call:

• Digital subscriptions remained a major growth engine: the company added 420,000 net digital subscribers, reaching 13.8 million, while digital-only subscription revenue rose 14.6%. Average digital-only ARPU increased 1.4%, supported by pricing step-ups and price increases.
• Q3 revenue increased 10% to $769 million, adjusted operating profit rose 14% to about $150 million, and adjusted diluted EPS grew to $0.68. Year-to-date free cash flow was approximately $436 million, and the company returned $276 million to shareholders.
• Advertising revenue grew 7.8%, with digital advertising up 12%, though digital ads came in slightly below guidance. For Q4, the company expects total advertising growth in the mid-single digits and digital advertising growth in the high-single to low-double digits.
• Q4 guidance calls for digital-only subscription revenue growth of 12%–15% and total subscription revenue growth of 9%–11%; adjusted operating cost growth is expected to moderate to 6%–8%. Management said it will continue investing in journalism and products, particularly video, while emphasizing cost discipline.
• Management said big tech changes are driving less traffic to publishers and that The Times is not immune, although it has not seen a measurable impact from AI agents on churn or cancellations so far. Executives described the effects of agents and evolving consumer behavior as uncertain and said they are monitoring them.

New York Times Trading Down 1.4%

NYSE:NYT opened at $65.59 on Friday. The company has a market capitalization of $10.58 billion, a P/E ratio of 23.17, a P/E/G ratio of 1.72 and a beta of 0.89. New York Times has a 12 month low of $57.97 and a 12 month high of $87.10. The business’s 50-day moving average is $67.28 and its 200 day moving average is $73.26.

New York Times Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 22nd. Stockholders of record on Wednesday, October 7th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, October 7th. New York Times’s payout ratio is 38.33%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NYT shares. New Street Research set a $82.00 price target on New York Times in a report on Tuesday, September 15th. Morgan Stanley cut their price objective on shares of New York Times from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Sunday, October 11th. Weiss Ratings upgraded shares of New York Times from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. UBS Group set a $82.00 price objective on shares of New York Times in a research report on Tuesday, September 15th. Finally, Barclays boosted their target price on shares of New York Times from $63.00 to $64.00 and gave the stock an “equal weight” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.80.

More New York Times News

Here are the key news stories impacting New York Times this week:

• Positive Sentiment: Q3 results topped expectations. NYT reported earnings of $0.68 per share versus $0.65 expected and revenue of $768.54 million versus $767.21 million expected. Revenue rose 9.7% year over year, driven by digital subscriber growth, higher subscription revenue and stronger advertising, supporting margin expansion. The New York Times Q3 Earnings Beat on Digital Subscription Growth
• Neutral Sentiment: Reported Letterboxd deal adds strategic potential but uncertainty. NYT is reportedly in exclusive talks to acquire the film-review social platform for $330 million. The deal could broaden its digital offerings and audience, though the report does not specify financing or expected financial contribution. The New York Times reportedly in talks to buy Letterboxd for $330 million
• Negative Sentiment: Barclays remains cautious. The firm raised its price target from $63 to $64 but kept an “equal weight” rating; the revised target was below the recently cited share price, suggesting limited upside in its view. TickerReport coverage of Barclays’ NYT price-target revision

About New York Times

The New York Times Company (NYSE: NYT) is a media and technology company best known for publishing The New York Times, a daily newspaper founded in 1851 by Henry Jarvis Raymond and George Jones. The company produces journalism across national and international news, business, politics, culture, science, sports and other topics through print and digital platforms.

In addition to its core news operation, the company offers a range of subscription products and digital services, including NYT Cooking, Games, Audio and The Athletic, a subscription-based sports media platform.