NY Times owner reports 1.2 per cent rise in Q2 revenues

Digital advertising revenue helps US paper offset falls

The New York Times Company has reported a 1.2 per cent year-on-year increase in its revenues to $589m in the second quarter.

The publisher said that a 21 per cent y-o-y rise in digital advertising revenue helped offset a 6 per cent fall in revenues from print advertising. However, the company's total ad revenue for the first six months was flat at $315m because of a 3.2 per cent revenue decline during the first quarter.

While the company's operating profit after depreciation, severance pay and amortisation increased by 39 per cent y-o-y to $92m, its net income fell by 18 per cent to $32m for the period.

The company expects print advertising revenue to improve further in the third quarter, while it sees growth "in the mid to high teens" in digital ads, which account for 26 per cent of company's total advertising revenues.

Chief executive Janet Robinson said that the company is well positioned to succeed in the evolving media market place.