New York Times(NYT) Zacks Investment Research·2024-02-15 14:11Company Performance - The New York Times Company concluded Q4 2023 with approximately 10 36 million subscribers including 9 7 million digital-only subscribers and 4 22 million bundle and multiproduct subscribers [2] - Digital-only subscribers increased by 880 000 compared to Q4 2022 [2] - Subscription revenues grew 3 9% year over year to 288 7 million [2] - Digital-only ARPU rose to 8 93 in the year-ago period [3] - Management anticipates Q1 2024 total subscription revenues to increase 7-9% and digital-only subscription revenues to rise 11-14% [3] Strategic Initiatives - The company has diversified revenue streams optimized expenses and streamlined operations [1] - Strategic acquisitions such as Wirecutter and The Athletic have expanded the company's reach and engaged wider audiences [1] - Focus on bundled subscriptions reflects a smart response to changing reader preferences [1] Industry Trends - Rapid digitization in advertising and reader preferences shifting toward online sources have led newspaper companies to reallocate resources to online publications [4] - The New York Times Company foresees a low-to-high-single-digit jump in digital advertising revenues for Q1 2024 [4] Stock Performance - Shares of The New York Times Company advanced 11 5% in the past year compared to the industry's growth of 9 9% [5] Other Stocks - CrowdStrike Holdings sports a Zacks Rank 1 with a trailing four-quarter earnings surprise of 16 6% on average and expected current financial-year sales and EPS growth of 36 1% and 90 9% respectively [6] - Meta Platforms sports a Zacks Rank 1 with a trailing four-quarter earnings surprise of 19 7% on average and expected current financial-year revenues and EPS growth of 17 4% and 31 9% respectively [6] - StoneCo sports a Zacks Rank 1 with a trailing four-quarter earnings surprise of 16% on average and expected current financial-year revenues and EPS growth of 9 5% and 166 7% respectively [7]