NYTD Posts Record Profit Margin

Posted Tuesday, April 13, 2004 12:00 am

By: Ann M. Mack (Adweek IQ) The New York Times Co. reported that revenue for its digital unit, which includes NYTimes.com and Boston.com, grew 31.1% in the first quarter to $25.7 million from $19.6 million in the year-earlier period.

Q1 operating profit for New York Times Digital more than doubled to a record $8.4 million from $3.2 million during the same quarter a year ago. This resulted in an operating profit margin of 32.6%, the highest ever achieved by the unit.

The gains were primarily attributed to higher ad revenue resulting from increased volume.

The results were released as a part of The New York Times Co.'s first-quarter earnings report. The company's total Q1 revenue rose 2.3% to $801.9 million. Its overall first-quarter net income was $58.4 million, or 38 cents per diluted share, compared to $68.8 million, or 45 cents per diluted share, in the year-ago period.

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NYTD Posts Record Profit Margin

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