New York Times
said its February advertising revenue fell 7.5%, down sharply from a 15.2% increase in the same month a year ago.
The New York Times brought in $158.9 million in ad revenue last month, down from $171.7 million in February 2000.
Earlier this month, the New York Times
lowered its first-quarter earnings guidance, citing softer advertising revenue and difficult comparisons to the strong year-ago period.
said its February ad revenue dropped 2.7% from the year-ago period and lowered its first-quarter earnings guidance. "The revenue environment continues to deteriorate, and we do not see relief in March," Knight-Ridder said. In February, the company brought in $179 million in ad revenue.
Shares of the New York Times fell 32 cents, or 0.8%, to $39.93, while Knight-Ridder rose 29 cents, or 0.5%, to $54.65, both in recent
New York Stock Exchange