HomeTop U.S. News"New York Times" Q3 Revenue Forecast Ahead of Estimates

“New York Times” Q3 Revenue Forecast Ahead of Estimates

New York Times Co announced on Tuesday its revenue forecast for the third quarter. The news outlet expects its advertising revenue to remain flat compared to the current quarter, while Wall Street analysts are forecasting a 4.1% drop.

The company is looking to expand its target audience by bundling access to news reports and articles with other products such as podcasts, games, and product recommendations. Furthermore, it seeks to maintain reader interest by encouraging subscribers who were attracted to the news outlet through promotions to upgrade to bundle deals, thereby increasing their payments.

With a goal of reaching 15 million subscribers by 2027, the NYT added 180,000 new subscribers during the second quarter. 190,000 new subscribers were gained during the first quarter.

Demand for advertising spots is rising as companies become more willing to increase their ad spend upon making an economic rebound. The company’s ad revenue of  $590.9 million for the second quarter outpaced its first-quarter result of $580.5 million.

Stocks Continue Slide as Israel-Iran Tension Ensues

Stocks on the New York Stock Exchange continued their drop-off on Friday as investor anxiety rose following Israel's retaliatory strike against Iran. Market composure...

United Airlines Stock Jumps 14% After Strong Q1 Results and Optimistic Projections for Q2

Following a strong first-quarter earnings report, United Airlines saw its stock jump 14% on Wednesday. Investors were also intrigued by the company’s optimistic projections...

iPhone Shipments Drop By 10%, Get Overtaken By Samsung as World’s Largest Phone Seller

2024 is shaping up to be a challenging year for tech giant Apple. The company saw its iPhone shipments drop by almost 10% in...