NEW YORK (TheStreet) -- The New York Times (NYT) has seen an "extraordinary" surge in both print and digital subscriptions since the U.S presidential election on Nov. 8, CEO Mark Thompson said on CNBC's "Squawk on the Street" on Tuesday.
Subscriptions to the Times in the first 18 days after the election were 10 times greater than in the same period last year, Thompson said.
This uptick in subscribers comes despite the newspaper's endorsement of Democratic candidate Hillary Clinton and many criticisms levied against the paper by President-elect Donald Trump. Trump called the New York Times a "failing" paper in a tweet last Tuesday.
But Thompson said his company is "far from failing" and is getting a "remarkable response" from new subscribers looking for independent journalism.
Whether the new subscribers will stay on board is a separate question. Subscriptions have seen less churn lately, Thompson said.
"We feel in uncharted territory in U.S. politics and in the news cycle," he said.
Typically, the Times would see a "quite period" after a U.S. election, but Trump is a "unique" president-elect, Thompson explained. Trump's transition is "far more controversial" and is receiving far more public interest than usual.
"I believe it's likely this new cycle will continue to be very lively through and beyond the inauguration," Thompson claimed. "So I think the interest will be there."
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.
TheStreet Ratings team rates the New York Times as a Hold with a ratings score of C. The primary factors that have impacted the team's rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
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