By: The New York Times Co. said Monday its April revenue from continuing operations slipped 2.2 percent as a rise in circulation revenue and an Easter holiday shift failed to offset lower advertising revenue.
The company said its ad revenue fell 5.1 percent to $186.1 million from $196 million in April 2007. Circulation revenue rose 3.3 percent to $87 million from $84.2 million in the year-ago period.
The newspaper company said its results benefited from the move of Easter Sunday to March this year. The day is typically a time of lower advertising at The New York Times and The Boston Globe, the company said.
The inclusion of Easter in March contributed to a revenue drop of 6.4 percent that month.
The company said advertising revenue for the news media group, which includes The New York Times, Boston Globe and regional newspapers, fell 6 percent in April, due to weaker classified advertising.
Internet advertising for the group rose nearly 26 percent due to growth in both display and classified ads. Circulation revenue increased about 3 percent for the group.
The company also runs 15 other daily newspapers, WQXR-FM and more than 50 Web sites, including About.com. The company's About group, which also includes consumersearch.com and calorie-count.com, reported revenue rose about 14 percent, due to strong cost-per-click ads.
Comments
No comments on this item Please log in to comment by clicking here