-=New York Times (NYT) reported earnings on Wed 6 May 20 (b/o)

New York Times beats by $0.08, beats on revs

Reports Q1 (Mar) earnings of $0.17 per share, $0.08 better than the S&P Capital IQ Consensus of $0.09; revenues rose 1.0% year/year to $443.6 mln vs the $438.88 mln S&P Capital IQ Consensus.

Outlook

• Total subscription revenues in the second quarter of 2020 are expected to increase in the mid- to high-single digits compared with the second quarter of 2019, with digital-only subscription revenue expected to increase in the high-twenties.
• Total advertising revenues in the second quarter of 2020 are expected to decline approximately 50% to 55% compared with the second quarter of 2019, with digital advertising revenue expected to decrease approximately 40% to 45%, largely due to the impact from the COVID-19 pandemic.
• Other revenues in the second quarter of 2020 are expected to decrease approximately 10% compared with the second quarter of 2019.