Core Insights - The New York Times Co. reported strong third-quarter earnings, exceeding estimates and contributing to a 13% stock increase in November [1][2][5] Financial Performance - The company added 460,000 net digital-only subscribers, bringing the total to 12.33 million, with 11.76 million being digital-only [4] - Digital advertising revenue increased, driving overall revenue up 9.5% to $700.8 million, surpassing estimates of $692 million [5] - Adjusted operating profit rose 26.1% to $131.4 million, resulting in an adjusted operating margin of 18.7% [5] - Adjusted earnings per share increased from $0.45 to $0.59, beating expectations of $0.53 [5] Future Guidance - The company projected total subscription revenue growth of 8-10% and a 6%-7% increase in adjusted operating costs, indicating continued margin improvement [6] - Analysts on Wall Street responded positively, raising price targets for the stock following the earnings report [6] Legal Context - The New York Times is engaged in a legal dispute with Microsoft and OpenAI, alleging unauthorized use of its content for training ChatGPT [6][7] Strategic Developments - The company has adapted to the digital landscape, recently launching a TikTok-like vertical video feature on its app, showcasing its evolution within the industry [8] - Given its strong brand and business success, the company is positioned for long-term growth [9]