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

Key Points

• New York Times beat quarterly expectations: EPS was $0.68 versus the $0.65 consensus, while revenue rose 9.7% year over year to $768.54 million, slightly above estimates.
• Digital subscriptions drove growth: The company added 420,000 net digital subscribers, reaching 13.8 million, and digital-only subscription revenue increased 14.6%.
• Outlook remains positive, with risks to monitor: Q4 guidance projects 12%–15% growth in digital-only subscription revenue, while management flagged uncertainty around technology-driven traffic shifts and publisher impacts.

New York Times (NYSE:NYT - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.03, FiscalAI reports. New York Times had a net margin of 13.19% and a return on equity of 22.64%. The firm had revenue of $768.54 million during the quarter, compared to analysts' expectations of $767.21 million. During the same quarter in the prior year, the company earned $0.59 EPS. The company's revenue was up 9.7% compared to the same quarter last year.

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 0.7%

NYSE NYT opened at $66.66 on Thursday. The firm's fifty day simple moving average is $67.34 and its two-hundred day simple moving average is $73.29. New York Times has a 12-month low of $57.53 and a 12-month high of $87.10. The firm has a market capitalization of $10.75 billion, a P/E ratio of 27.78, a P/E/G ratio of 1.73 and a beta of 0.89.

New York Times Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wall Street Zen lowered New York Times from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings upgraded New York Times from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Morgan Stanley reduced their price target on New York Times from $90.00 to $75.00 and set an "equal weight" rating for the company in a research report on Sunday, October 11th. Guggenheim upgraded New York Times from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $70.00 to $82.00 in a research note on Tuesday, September 15th. Finally, New Street Research set a $82.00 price objective on New York Times in a research report on Tuesday, September 15th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, New York Times currently has a consensus rating of "Moderate Buy" and an average target price of $82.70.

Key New York Times News

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

• Positive Sentiment: NYT earned $0.68 per share, above the $0.65 consensus and up from $0.59 a year earlier. Revenue increased 9.7% year over year to $768.54 million, slightly above estimates of $767.21 million. Article: New York Times Co. Q3 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Digital subscriber additions accelerated, helping lift quarterly revenue—a key growth driver for the company as it expands beyond print. Article: New York Times Revenue Rises on Digital Subscriber Gains
• Negative Sentiment: Costs and print weakness remain potential headwinds, tempering the otherwise favorable results; the earnings reports provided here do not quantify their impact on the quarter. Article: Assessing The New York Times Company Ahead of Q3 Earnings Release

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.