New York Times(US:NYT)2025-11-05 12:02Subscriber Growth - The New York Times Company added approximately 460,000 net digital-only subscribers in Q3 2025, bringing the total to 12.33 million subscribers[4]. - The total number of digital-only subscribers as of Q3 2025 was 11.76 million, an increase from 10.47 million in Q3 2024[47]. - The total number of print subscribers as of Q3 2025 was 570,000, a decrease from 620,000 in Q3 2024[47]. Revenue Growth - Digital subscription revenues grew by 14.0% year-over-year to $367.4 million, while digital advertising revenues increased by 20.3% to $98.1 million[4]. - Total revenues for Q3 2025 reached $700.8 million, a 9.5% increase from $640.2 million in Q3 2024[15]. - Total subscription revenues for the first nine months of 2025 were $1.44 billion, up 9.0% from $1.32 billion in the same period of 2024[43]. Profitability - Operating profit rose 36.6% year-over-year to $104.8 million, with an operating profit margin of 15.0%[4]. - Net income for Q3 2025 was $81.6 million, up 27.3% compared to Q3 2024[40]. - Adjusted operating profit for Q3 2025 was $131.4 million, up 26.1% from $104.2 million in Q3 2024[58]. Earnings Per Share - Diluted earnings per share (EPS) for Q3 2025 was $0.50, an increase of $0.11 year-over-year, while adjusted diluted EPS was $0.59, up $0.14[4]. - Basic earnings per share increased by 28.2% to $0.50 in Q3 2025[40]. - Adjusted diluted EPS for Q3 2025 was $0.59, a 31.1% increase from $0.45 in Q3 2024[57]. Cash Flow and Financial Position - Net cash provided by operating activities in the first nine months of 2025 was $420.3 million, compared to $258.8 million in the same period of 2024[25]. - Free cash flow for the first nine months of 2025 was $392.9 million, up from $237.7 million in the same period of 2024[25]. - The Company had cash and marketable securities of $1.1 billion as of September 30, 2025, an increase of $184.9 million from the end of 2024[24]. Operating Costs - The company expects adjusted operating costs to increase by 6% to 7%[29]. - Total operating costs for Q3 2025 amounted to $596.0 million, a 5.8% increase from $563.5 million in Q3 2024[60]. Capital Expenditures - Capital expenditures for the period were approximately $35 million[34]. - Capital expenditures for the nine months ended 2025 were $27.5 million, compared to $21.1 million in the same period of 2024[61]. Litigation and Other Costs - The company recorded $2.4 million in litigation-related costs in Q3 2025, compared to $4.6 million in Q3 2024[43]. - Generative AI litigation costs decreased by 47.8% in Q3 2025, totaling $2.4 million compared to $4.6 million in Q3 2024[60]. - Multiemployer pension plan withdrawal costs fell by 33.9% in Q3 2025, amounting to $1.2 million, down from $1.9 million in Q3 2024[60].