(AP) Newspaper publisher New York Times Co. on Thursday said its advertising revenue grew moderately last month, helped by improved results from its New York Times media group.
The company’s July ad revenue increased 5.6% to $178.3 million from $168.9 million a year earlier, while overall revenue jumped 3.1%. Excluding the March 2005 acquisition of About.com Inc., ad revenue rose 2.9%.
At its New York Times media group, which includes flagship The New York Times and International Herald Tribune, ad sales were up 4.9% to $90.7 million. Ad revenue also jumped 5.9% to $32.8 million at its regional media group, but slipped 1.8% to $39 million at its chain of New England newspapers.
Results were bolstered by a 5.2% rise in national ad sales and 2.6% growth in retail ads, as well as a slight 1.2% increase in classified ads. Total newspaper-ad volume edged up 0.8% to 1.8 million inches.
Meanwhile, broadcast media ad revenue fell 3.8% to $11.3 million.
“Advertising revenues improved in July, especially at the New York Times Media Group where we saw the highest rate of growth since the beginning of the year,” said President and Chief Executive Janet L. Robinson. “Visibility, however, remains limited and comparisons this month are difficult, given the company’s nearly 8% increase in advertising revenues in August of last year.”
Year to date, New York Times’ total ad sales have grown 2.8% to $1.28 billion on strength in the retail ad market, while volume has declined 1.5% to 12.1 million inches.
Shares of New York Times fell 10 cents to $31.78 during morning trading on the New York Stock Exchange.