NY Times beats forecasts, thanks to digital subscription growth

Experts from the article by Reuters on New York Post.

The New York Times Co. pleased investors with market-beating profit and revenue as digital subscriptions surged, underscoring the turnaround in its fortunes that had wavered as fewer people bought newspapers.

The publisher’s shares jumped as much as 13.8 percent, to $25.20, their highest since July 2007.

New York Times has been discounting heavily to lure more paid subscribers to its online content and is packaging its subscriptions more attractively, with access to sought-after daily crossword puzzles and cooking recipes.

The company added 157,000 digital subscribers in the quarter ended Dec. 31, taking its total subscriber count to above 2.5 million. Revenue from its digital-only subscription products, including news as well as crossword and NYT Cooking Recipes, increased 51.2 percent, to $96.3 million.

Read the full article on the New York Post