New York Times
posted third-quarter earnings that met analysts' expectations due to solid advertising revenue growth, particularly at
The New York Times
The Boston Globe
The publishing concern earned 37 cents a share, excluding special items, up from 36 cents a share in the same period last year. A 12-analyst estimate by
First Call/Thomson Financial
estimated earnings of 37 cents a share for the company's third quarter.
Revenue grew 8% to $787.3 million from $729.7 million. Advertising revenue in the company's newspaper group rose 8.9%.
The company also said it will halt plans for a public offering of a tracking stock to reflect the performance of New York Times Digital, its Internet business division, citing unfavorable conditions in the public equities markets.
New York Times shares were recently down $1.13, or 3.1%, to $35.