New York Times Profits Down 50%: Print, Digital Revenues Still Falling

Townhall.com Staff
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Posted: Feb 06, 2014 9:58 AM

The New York Times announced Thursday that profits had fallen nearly 50% in the fourth quarter of 2013 compared to the same period a year before. Earnings per share dropped by roughly two-thirds, from $0.76 to $0.24. Total revenues were down 5.2% and advertising revenues were down 6.3%, with print advertising revenues falling by 7.0% and digital by 4.3% over 2013. The company added digital subscribers, up 19% in the fourth quarter of 2013 compared to same period in 2012, but its circulation revenues were down, too.