NEW YORK TIMES Reports Third Quarter FY2023 Earnings Results on November 8 2023
November 22, 2023
🌥️Earnings Overview
The New York Times ($NYSE:NYT) reported its financial results for the third quarter of 2023, which concluded on September 30 2023, on November 8 2023. The company achieved total revenue of USD 598.3 million, representing a 9.2% increase in comparison to the same period in the previous year. Reported net income was USD 53.6 million, demonstrating an impressive surge of 46.4% from the corresponding quarter of the previous year.
Stock Price
The results showed a positive outcome as the stock opened at $42.6 and closed at $44.1, a 6.0% rise from the last closing price of 41.6. This marks a positive shift for the company, indicating an upward trend in their business operations. The third quarter earnings report revealed that NEW YORK TIMES has experienced robust growth across all their sectors and industries. The report also showed that the company has been making strategic investments in digital platforms and content.
They are actively seeking to expand their reach and audience through new products and services such as “The Times Up!” which is aimed at providing increased accessibility to their content. Overall, the third quarter earnings report from NEW YORK TIMES provides encouraging news for the company’s future prospects. With continued investment in digital platforms and content, the company is in a strong position to capitalize on their growing audience and drive further growth in the coming years. 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 |
| 2.42k | 193.3 | 8.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for NYT. More…
| Operations | Investing | Financing |
| 289.76 | -91.55 | -152.88 |
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 |
| 2.55k | 891.29 | 10.05 |
Key Ratios Snapshot
Some of the financial key ratios for NYT are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.7% | 16.5% | 10.6% |
| FCF Margin | ROE | ROA |
| 10.9% | 9.9% | 6.3% |
Analysis
GoodWhale conducted an in-depth analysis of the wellbeing of NEW YORK TIMES and found that it has a strong performance in asset, dividend, and profitability. By using our Star Chart, we classified NEW YORK TIMES as a ‘Rhino’, a type of company that has achieved moderate revenue or earnings growth. On top of that, it has an impressive health score of 10/10 with regard to its cashflows and debt, making it well-positioned to safely ride out any crisis without the risk of bankruptcy. This makes NEW YORK TIMES an attractive option for investors looking for a company with solid performance indicators. With its strong asset, dividend, and profitability ratings, as well as its moderate growth potential, it is possible that value investors, income investors, and growth investors may all be interested in exploring the potential for investing in this company. 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 of the New York Times have cause for celebration following the company’s earnings report for the third quarter of fiscal year 2023. Total revenue for the period ended September 30 2023 was reported at USD 598.3 million, a 9.2% increase year-over-year, while net income jumped 46.4%. On the news of the strong earnings report, stock prices surged on November 8, 2023. It appears that the New York Times is currently in a strong financial position, making it a good investment opportunity for those looking to buy into the company.
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