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New York Times Co.

(NYT) - Get New York Times Company Class A Report

reported third-quarter earnings and revenue in line with expectations, benefiting from solid volume growth after its acquisition of the

International Herald Tribune


It also announced that September advertising revenue up nearly 5% versus last year.

New York Times joins media powers


(GCI) - Get Gannett Co., Inc. Report


E.W. Scripps

(SSP) - Get E. W. Scripps Company Class A Report


Dow Jones

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in reporting third-quarter results that met or edged out analyst earnings and revenue expectations despite sharply higher newsprint costs and a decrease in political advertising vs. the year-ago period.

For the third quarter, New York Times Co. earned $50 million, or 33 cents a share, on revenue of $759 million compared with $59 million, or 38 cents a share, on revenue of $730 million in the year ago period. The 4% revenue gain was driven primarily by the company's taking full ownership of the

International Herald Tribune


Washington Post Co.


, but the earnings drop resulted from a 13% increase in newsprint costs and a bad help-wanted classified ad market. The Times cited its "home-delivery expansion initiative" in driving its daily circulation up over 5% and its Sunday edition up over 4%.

The company also benefited from a solid contribution from its growing online division. New York Times digital saw revenue jump nearly 20% on higher advertising rates, but the broadcast segment was weak this quarter, posting a 6% decline in revenue and a 30% decline in operating income vs. the year-ago period due to the loss of paid political advertisements.

The stock closed at $45.69 on Wednesday off 3% for the year and off about 10% from its 52 week high of $50.25.

Based on current share prices, New York Times Co. trades at a price-to-earnings ratio of 21 times 2004 earnings vs. 24 times for Scripps, 16 for Gannett, 39 for Dow Jones, 17 for

Knight Ridder