New York Times Beats Profit Estimates on Slower Ad Declines
Posted: 2/7/2013 | By: Edmund Lee | Bloomberg Businessweek
New York Times Co. (NYT) rose the most in
more than six months as a slower decline in advertising and a
growing online subscriber base helped beat fourth-quarter profit
estimates.
Net income tripled to $176.9 million, or $1.14 a share, compared with $58.9 million, or 39 cents, a year earlier, the company said today in a statement. Those gains came from the sale of About.com and a stake in Indeed.com, which added $164.3 million in the quarter after taxes.
Net income tripled to $176.9 million, or $1.14 a share, compared with $58.9 million, or 39 cents, a year earlier, the company said today in a statement. Those gains came from the sale of About.com and a stake in Indeed.com, which added $164.3 million in the quarter after taxes.