NEW YORK TIMES Reports Second Quarter Financial Results for FY2023
August 16, 2023
🌥️Earnings Overview
On August 8 2023, the NEW YORK TIMES ($NYSE:NYT) reported their financial results for the second quarter of FY2023 (ending on June 30 2023). Revenues for the quarter totaled USD 590.9 million, which represented an increase of 6.3% year-on-year. However, net income for the quarter dropped 24.6% to USD 46.6 million when compared to the same period in the prior year.
Stock Price
The stock opened at $42.8 and closed at $44.3, gaining 8.5% from its previous closing price of $40.8. This was largely driven by a strong increase in demand for its digital news products. Overall, it was a good quarter for NEW YORK TIMES, with the company surpassing most of its financial targets for the period.
The stock market responded positively to the news, sending the share price up 8.5% from its previous close. Investors will be watching carefully to see if the company can maintain this momentum into the third quarter. 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
At GoodWhale, we recently analyzed the wellbeing of NEW YORK TIMES, and our results have shown that it is a low risk investment in terms of financial and business aspects. We looked at a variety of financial indicators such as cash flow and debt to equity, as well as business data such as competitive press and leadership. After combining all the data, we concluded that NEW YORK TIMES is a low risk investment. If you would like to get an even more detailed look at the financial and business areas with potential risks, you can register on goodwhale.com. Here you can view our comprehensive analysis of NEW YORK TIMES’s wellbeing, as well as other companies. This way, you can make a well-informed decision when considering investing in NEW YORK TIMES. 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
Investors reacted positively to the NEW YORK TIMES’ second quarter results for FY2023, which reported total revenue of USD 590.9 million, an increase of 6.3% year over year. Despite a decrease in net income of 24.6% compared to the same period in the previous year, the stock price moved up on the day of the announcement. This suggests investors are confident that the company’s long-term profitability and outlook remain strong. Analysts will be closely watching to see if the company can continue to deliver positive growth in the months ahead.
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