By: E&P Staff
The New York Times reported today that total revenue in Q1 grew 3.3% to $831.8 million compared with $805.6 million in the same period last year. Excluding About.com, which was acquired in March, total revenue increased 1.1%.
Advertising revenue for Q1 advanced 3.9. Excluding About.com, ad revenue was up 0.7%.
Circulation revenue increased 0.3%.
Total costs and expenses rose 6% to $763.5 million. Excluding those costs related to staff reductions and About.com, total costs and expenses grew 3.2% due to a 1.3% increase in higher distribution and printing costs, a 1% increase in raw materials expense, and a 0.8% increase in higher promotion expense.
Total revenue for the News Media Group increased 1% to $781 million. Ad revenue grew 0.7%, mainly due to growth in online revenues. Higher print advertising rates were more than offset by lower print volume.
For the New York Times Media Group, advertising revenue was up 2.1%. Circulation was up 1.8%.
For the New England Media Group, advertising revenue dropped 7.2% and circulation revenue declined 5.7%.
For the Regional Group, ad revenue was up 5.3% and circulation was up 1.5%.
In a statement, CEO Janet L. Robinson said: ?In total, our Internet businesses now account for 7.5% of our overall revenues, up from 4.5% in Q1 of last year. This stems from both strong organic growth as well as the acquisition of About.com.?