New York Times tech workers are ending their strike after a weeklong stoppage.The strike threatened to disrupt election coverage but had limited impact on the Times' operations.The Tech Guild, formed in 2021, represents 600-plus engineers. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're o ...

Dozens of New York Times tech workers crossed the picket line amid a tech strike.The Tech Guild is striking over remote work, pay equity, and subcontracting limits.The work stoppage threatened to disrupt operations during an expected election traffic surge. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized f ...

The New York Times Company (NYT) continued its decent performance in the third quarter of 2024. The company's adjusted earnings per share were 45 cents, which surpassed the Zacks Consensus Estimate of 42 cents. The figure marked an increase from the year-ago adjusted earnings of 37 cents. Total revenues of $640.2 million were in line with the Zacks Consensus Estimate of $640 million and increased 7% year over year. See the Zacks Earnings Calendar to stay ahead of market-making news.NYT added approximately 2 ...

The CEO of AI search company Perplexity, Aravind Srinivas, has offered to cross picket lines and provide services to mitigate the effect of a strike by New York Times tech workers.The NYT Tech Guild announced its strike Monday, after setting November 4 as its deadline months earlier. The workers represented provide software support and data analysis for the Times, on the business side of the outlet. They have been asking for an annual 2.5% wage increase and to cement a current two days per week in-office ex ...

The CEO of AI search company Perplexity, Aravind Srinivas, has offered to cross a virtual picket line and provide services during a strike by New York Times tech workers.The NYT Tech Guild announced its strike Monday, after setting November 4 as its deadline months earlier. The workers represented provide software support and data analysis for the Times, on the business side of the outlet. They have been asking for an annual 2.5% wage increase and to cement a current two days per week in-office expectation, ...

The New York Times' tech workers went on strike, risking disrupting the Times during the election.The Tech Guild is seeking remote work protections, pay equity, and limits on subcontracting.The strike could impact the Times' digital operations ahead of an expected traffic surge. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission file number 1-5837 THE NEW YORK TIMES COMPANY (Exact name of registrant as specified in its charter) New York 13-1102020 (State or other jurisdict ...

Financial Data and Key Metrics Changes - The company reported a 7% increase in overall revenue for Q3 2024, driven by growth in digital subscriptions, digital advertising, affiliate, and licensing revenue, which offset declines in print revenue [15][18] - Adjusted operating profit (AOP) grew by approximately 16% year-over-year, with AOP margin expanding by about 130 basis points to 16.3% [15][19] - Digital-only subscription revenues increased approximately 14% to $322 million, while total subscription revenues grew approximately 8% to $453 million [17][18] Business Line Data and Key Metrics Changes - The company added 260,000 net new digital subscribers in Q3, bringing the total to over 11 million, with bundle and multi-product subscribers accounting for approximately 46% of the total base [7][16] - Digital-only average revenue per user (ARPU) grew 1.8% to $9.45, reflecting successful pricing strategies [17] - Digital advertising revenue increased nearly 9% to $82 million, with total advertising revenues rising approximately 1% to $118 million [11][18] Market Data and Key Metrics Changes - The company experienced strong performance across its lifestyle products, which contributed to the growth in digital advertising revenue [11][26] - The Athletic, part of the company's bundle offering, is gaining traction among sports fans, contributing positively to subscriber engagement and revenue [10][20] Company Strategy and Development Direction - The company aims to become the essential subscription for individuals seeking to engage with the world, focusing on a multi-product portfolio that includes news, games, sports, cooking, and shopping insights [4][5] - A redesign of the New York Times App was launched to enhance user engagement and accessibility to various products [8] - The company is investing in audio and video formats to diversify content delivery and enhance subscriber engagement [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate audience headwinds caused by shifts in the platform landscape, emphasizing the importance of direct relationships with subscribers [5][40] - The company anticipates continued growth in digital subscription revenues for Q4, with expectations of a 14% to 17% increase compared to Q4 2023 [22] - Management acknowledged the potential impact of a union work stoppage on operations but indicated that current guidance incorporates best estimates of these effects [21][41] Other Important Information - The company plans to discontinue supplemental disclosures of subscribers who have entitlements to The Athletic after Q4 2024, integrating these subscribers into total digital-only subscriber disclosures [20] - The company remains focused on long-term revenue growth and margin expansion while managing costs effectively [19][52] Q&A Session Summary Question: Strength in digital advertising and new supply - Management indicated that digital advertising growth stemmed from enhanced ad products in lifestyle offerings and the rollout of new supply across all lifestyle products, including Games and The Athletic [26] Question: Bundle ARPU growth - Management highlighted that the focus is on long-term revenue growth, with confidence in ARPU trajectory due to successful pricing strategies and subscriber engagement [28][29] Question: Net adds with news entitlement - Management noted that the model is designed to harness demand from various sources, with strong engagement metrics indicating effective coverage and innovation in news formats [32][33] Question: Impact of AI on traffic - Management acknowledged that AI products are contributing to audience headwinds but emphasized the strategy to build resilience through high-quality products and direct relationships [40] Question: Subscriber trends and Q4 guidance - Management expressed confidence in the net adds and the value brought by new subscribers, with a positive outlook for Q4 based on strong engagement and revenue growth [44][46] Question: Audience headwinds and platform impact - Management reiterated that platforms are sending less traffic to publishers, but the company's strategy is designed to build resilience and drive direct engagement [50] Question: Competitor challenges and subscriber attraction - Management stated that while they do not take joy in competitors' difficulties, they expect to continue attracting subscribers for various reasons [51] Question: Cost breakdown and unusual movements - Management explained that cost fluctuations are typical in any quarter, emphasizing a long-term focus on sustaining revenue growth while managing costs strategically [52]

New York Times Co. (NYT) came out with quarterly earnings of $0.45 per share, beating the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.37 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.14%. A quarter ago, it was expected that this newspaper publisher would post earnings of $0.40 per share when it actually produced earnings of $0.45, delivering a surprise of 12.50%.Over the last four quarters, ...

Third Quarter 2024 Earnings Presentation November 4, 2024 Forward-Looking Statements Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Terms such as "aim," "anticipate," "believe," "confidence," "contemplate," "continue," "conviction," "could," "drive," "estimate," "expect," "forecast, ...