New York Times beats quarterly revenue estimates

The New York Times Co reported better-than-expected quarterly revenue on Thursday as digital readership soared in a quarter that was dominated by heavy news coverage around the U.S. elections and the COVID-19 pandemic.

Total revenue rose to $509.36 million from $508.36 million in the fourth quarter, above analysts' estimates of $498.3 million, according to IBES data from Refinitiv.