Updated at 2:30 p.m. Eastern Standard Time
Both Dow Jones & Co. and The New York Times Co. reported lower net earnings in the second quarter Tuesday, but both had bright spots in their new media divisions.
New York Times Digital achieved its eighth consecutive quarter of operating profit, which hit a record $4.3 million in the April-June period. Revenues grew 21.7% in the second quarter to $21.6 million from $17.8 million in the same period a year ago.
The company attributed the higher revenues to increased advertising revenues.
At Dow Jones, electronic publishing revenue was up 1.8% to $80 million from the year-ago period. Operating income was up 6.1% to $16.1 million. A spokeswoman said it was the fourth consecutive quarter of operating profits for the consumer electronic publishing group.
Paid subscriptions to The Wall Street Journal Online rose 3.9% to 671,000.