The New York Times Company added another 260,000 digital subscribers in the third quarter, a 24% boost over the previous-year period, as the company grew its net income by nearly 20% to $64.1 million.
At the same time, the publication’s sales increased 7% year-over-year to $640.2 million. Wall Street investors and analysts seemed to want more from The Times, however, with Times shares dropping 7% on Monday morning after the release of its Q3 report.
Here are the top line results:
Net income: $64.14 million, up 19.6% from $53.6 million in Q3 of 2023.
Revenues: $640.2 million, up 7% from $598.3 million in 2023.