NEW YORK TIMES Reports Third Quarter Earnings for FY2023 on September 30, 2023

🌥️Earnings Overview

On September 30 2023, the NEW YORK TIMES ($NYSE:NYT) announced its third quarter FY2023 earnings results. Total revenue was USD 598.3 million, an increase of 9.2% compared to the same period in FY2022. The net income also grew by 46.4% year-over-year, to USD 53.6 million.

Price History

At the opening of the trading day, its stock opened at a price of $42.6, and closed the trading day at $44.1, a rise of 6.0% from its last closing price of $41.6. The financial report showed that the New York Times had strong operating performance in the third quarter, indicating that there was robust demand for their content and services. The company’s subscription service also saw strong growth during the quarter. Overall, the strong growth in NEW YORK TIMES’ third quarter earnings showed that their strategy of diversifying their revenue streams is paying off and positioning them well for future success. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for NYT. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for NYT. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for NYT. More…

Key Ratios Snapshot

Some of the financial key ratios for NYT are shown below. More…

Analysis

As GoodWhale, we recently conducted an analysis of New York Times’s wellbeing. Based on the Star Chart, New York Times is classified as ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. Thus, investors who are looking for moderate investments with steady returns may be interested in this company. Moreover, our analysis showed that New York Times is strong in asset, dividend, profitability and medium in growth. Additionally, the company has a high health score of 10/10 with regard to its cashflows and debt, meaning it is capable to safely ride out any crisis without the risk of bankruptcy. 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 appear to be bullish on the New York Times, as the company reported its third quarter earnings for FY2023 seeing a 9.2% increase in total revenue and a 46.4% increase in net income when compared to the same period last year. This positive performance led to a stock price increase on the same day. With such strong financials, investors are likely confident in the ability of the New York Times to continue growing and delivering positive returns for them in the future.