-=New York Times (NYT) reported earnings on Wed 6 Nov 19 (b/o)

New York Times beats by $0.03, reports revs in-line; sub revenues in line with guidance; paid digital-only subscriptions up 31% yr/yr

Reports Q3 (Sep) earnings of $0.12 per share, excluding non-recurring items, $0.03 better than the S&P Capital IQ Consensus of $0.09; revenues rose 2.7% year/year to $428.5 mln vs the $428.35 mln S&P Capital IQ Consensus.

Subscription revenues increased 3.7% (guidance called for increase in the low to mid single digits).

Revenue from the Company's digital-only subscription products (which include our news product, as well as our Crossword and Cooking products) increased 14.5%, to $115.9 mln, from the third quarter of 2018 (guidance called for an increase in the mid teens). Paid digital-only subscriptions totaled approximately 4,053,000 at the end of the third quarter of 2019, a net increase of 273,000 subscriptions compared with the end of the second quarter of 2019 and a 31.0 percent increase compared with the end of the third quarter of 2018.

Guidance: Total subscription revenues in the fourth quarter of 2019 are expected to increase in the low- to mid-single digits compared with the fourth quarter of 2018, with digital-only subscription revenue expected to increase in the mid-teens. Total advertising revenues in the fourth quarter of 2019 are expected to decline in the mid-teens compared with the fourth quarter of 2018, with digital advertising revenue also expected to decrease in the mid-teens.