New York Times Beats Profit Estimates on Slower Ad Declines

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 and a stake in, which added $164.3 million in the quarter after taxes.

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