By: New York Times Digital's revenues increased 26.8% to $18.2 million in the third quarter, according to the New York Times Co.'s earnings report released Thursday. That's up from $14.4 million in the same period last year.
The company said this was the fifth consecutive quarter that it's new-media arm has achieved an operating profit ($2.8 million for 3Q 2002, up from $0.8 million in the year-ago period).
As of September, total advertising at NYTD properties was up 30% year to date. The company said online ad renewals have been very strong at 70%. Strong online categories included travel, finance/banking, and telecom. New ad formats such as the "surround session" are also attracting advertisers, the company said, pointing to September campaigns by Cingular, Honda, and Oracle.
Overall online classified advertising was up thanks to the real estate and auto categories.
Also Thursday, NYTD officially announced its partnership with The Cobalt Group of Seattle, which will power NYTimes.com's auto section. The site previously was a cars.com affiliate.
The New York Times Co. is still an investor in cars.com's parent, Classified Ventures of Chicago, according to an NYTD spokesperson.
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