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BRIEF-The New York Times Company Reports Q2 Adjusted Earnings Per Share $0.17

Reuters | New York | Updated: 07-08-2019 18:33 IST | Created: 07-08-2019 18:30 IST
BRIEF-The New York Times Company Reports Q2 Adjusted Earnings Per Share $0.17
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New York Times Co: * THE NEW YORK TIMES COMPANY REPORTS 2019 SECOND-QUARTER RESULTS

* Q2 REVENUE $436.3 MILLION VERSUS REFINITIV IBES ESTIMATE OF $438.7 MILLION * Q2 ADJUSTED EARNINGS PER SHARE $0.17 FROM CONTINUING OPERATIONS

* Q2 ADJUSTED EARNINGS PER SHARE $0.17 * Q2 EARNINGS PER SHARE ESTIMATE $0.15 -- REFINITIV IBES DATA

* TOTAL REVENUES FOR Q2 OF 2019 INCREASED 5.2 PERCENT TO $436.3 MILLION FROM $414.6 MILLION IN Q2 OF 2018 * TOTAL SUBSCRIPTION REVENUES IN Q3 OF 2019 ARE EXPECTED TO INCREASE IN LOW- TO MID-SINGLE DIGITS

* QTRLY SUBSCRIPTION REVENUE $270.5 MILLION, UP 3.8% * TOTAL ADVERTISING REVENUES IN Q3 OF 2019 ARE EXPECTED TO DECLINE IN HIGH-SINGLE DIGITS

* QTRLY ADVERTISING REVENUE $120.8 MILLION, UP 1.3% * DIGITAL ADVERTISING REVENUE EXPECTED TO DECREASE IN HIGH-SINGLE DIGITS IN Q3

* EXPECT A MORE CHALLENGING SECOND HALF OF 2019 IN DIGITAL ADVERTISING REVENUE * OTHER REVENUES IN Q3 OF 2019 ARE EXPECTED TO INCREASE APPROXIMATELY 25 PERCENT TO 30 PERCENT

* NEW YORK TIMES - EXPECTS 2019 CAPEX OF $50 MILLION TO $60 MILLION ON A PRE-TAX BASIS * PAID DIGITAL-ONLY SUBSCRIPTIONS TOTALED ABOUT 3,780,000 AT END OF Q2 OF 2019, UP 197,000 SUBSCRIPTIONS VERSUS END OF Q1 OF 2019

* IN Q2, ADDED 197,000 NET NEW DIGITAL-ONLY SUBSCRIPTIONS, 131,000 OF WHICH CAME FROM OUR CORE NEWS PRODUCT * TODAY, THE TIMES HAS 4.7 MILLION TOTAL SUBSCRIPTIONS

* SECOND-QUARTER DIGITAL ADVERTISING REVENUE INCREASED 13.7 PERCENT, WHILE PRINT ADVERTISING REVENUE DECREASED 8.0 PERCENT * WHILE PROFITABILITY DECLINED IN Q2, THAT IS IN LARGE PART A RESULT OF CONTINUED INVESTMENT INTO GROWING OUR SUBSCRIPTION BUSINESS

* 'THE WEEKLY' WAS LARGEST DRIVER OF 30% GROWTH IN OTHER REVENUE IN QUARTER * EXPECT SECOND HALF OF 2019 TO BE SOMEWHAT MORE CHALLENGING FOR DIGITAL ADVERTISING THAN FIRST HALF

* SECOND-QUARTER 2019 DILUTED EARNINGS PER SHARE FROM CONTINUING OPERATIONS OF $0.15 Source text for Eikon: Further company coverage:


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