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New York Times swings to profit as digital subscriptions rise

Company added 3,08,000 net digital news subscriptions

Reuters 

The New York Times Co swung to a quarterly profit from a loss a year earlier, as the newspaper publisher benefited from higher digital subscriptions that offset falling print sales. Net income attributable to the company was $13.2 million or 8 cents per share in the first quarter of 2017, compared with a loss of $8.3 million or 5 cents per share, a year earlier. "We added an astonishing 3,08,000 net digital news subscriptions, making Q1 the single best quarter for subscriber growth in our history," Chief Executive Mark Thompson said in a statement. Revenue rose 5.1 ...

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First Published: Wed, May 03 2017. 19:03 IST
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