NEW YORK TIMES Reports Second Quarter Financial Results for FY 2023
August 14, 2023
🌥️Earnings Overview
On August 8 2023, the New York Times ($NYSE:NYT) reported their financial performance for the second quarter of fiscal year 2023, which concluded on June 30 2023. Total revenue was USD 590.9 million, a 6.3% increase compared to the previous year, while net income was USD 46.6 million, a 24.6% decrease year over year.
Share Price
The stock opened at $42.8 and closed at $44.3, marking an 8.5% increase from the previous closing price of $40.8. This reflects a strong start to the fiscal year and is attributed to a number of factors, including the strong performance of its digital products and subscription services. The stock’s 8.5% rise from the previous closing price reflects investor confidence in the company’s ability to continue to innovate and grow its digital products and subscription services in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for NYT. More…
| Total Revenues | Net Income | Net Margin |
| 2.37k | 176.3 | 8.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for NYT. More…
| Operations | Investing | Financing |
| 216.08 | -73.56 | -174.31 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for NYT. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.47k | 895.5 | 9.56 |
Key Ratios Snapshot
Some of the financial key ratios for NYT are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.9% | 17.2% | 10.2% |
| FCF Margin | ROE | ROA |
| 7.7% | 9.6% | 6.1% |
Analysis
As GoodWhale analysts, we have examined the financials of the New York Times and determined that the company is strong in dividend and profitability, medium in growth, and weak in asset. Our Star Chart analysis suggests that New York Times has a high health score of 10/10, indicating its capability to sustain future operations in times of crisis. Additionally, we have classified the company as a ‘rhino’, meaning that it has achieved moderate revenue or earnings growth. Given these factors, we believe that the New York Times would be best suited to investors looking for steady growth and dividends. These investors are likely to be looking for a long-term, safe investment with a reliable history of returns. They also prefer steady growth and do not take excessive risks. Ultimately, these investors are looking for a company that will provide steady returns over the long term and will not be too affected by market volatility. More…
Peers
The Company’s news media segment includes The New York Times, the International Herald Tribune, The Boston Globe, and other news properties. The Company’s Crossword segment includes digital games, mobile apps, and subscription products. The Company’s Other segment includes the Company’s wire service, commercial printing, and digital archive businesses.
– Houmu Holdings Ltd ($OTCPK:HOMU)
NZME Ltd is a New Zealand media company. It has a market cap of 218.7 million as of 2022 and a return on equity of 19.82%. The company operates newspapers, websites, radio stations, and magazines in New Zealand and Australia. It also provides advertising, marketing, and content services.
– NZME Ltd ($NZSE:NZM)
It has a market cap of 303.57M as of 2022, a Return on Equity of 7.81%. The company is a provider of news and information for the UK and Ireland. The company operates in four segments: News, Sport, Classifieds, and Other. The News segment provides news content through its national and regional newspapers, as well as its digital news platforms. The Sport segment offers sports content through its national and regional newspapers, as well as its digital sports platforms. The Classifieds segment provides classified advertising services through its national and regional newspapers, as well as its digital classifieds platforms. The Other segment includes the company’s digital businesses, such as property, dating, and jobs.
Summary
The New York Times reported their financial results for Q2 of FY 2023 on August 8, showing total revenue of USD 590.9 million, a 6.3% increase compared to the same period last year, and net income of USD 46.6 million, a 24.6% decrease year-over-year. The stock price rose the same day in reaction to these results. Investors view this as promising news, as the slight increase in revenue implies a potential for growth despite the decrease in net income. The company’s long-term prospects look good, especially considering their move towards digital media, and it is likely that the stock will continue to rise as their strategy continues to be refined.
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