New York Times Company Down 7.79% To $44.64 After Earnings

New York Times Company (NYT) said before open Wednesday that it broke even in quarter four 2023.

In the same quarter a year ago, the company earned $0.59 per share on revenue of $667.5 million.

The stock is down 7.79% to $44.64 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

Trading in the five days leading up to the report earned New York Times Company a Bearish Sentiment Rank from InvestorsObserver.

New York Times Company has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 82, putting New York Times Company in the top 25% of stocks. The firm was recently trading at a 52-week high of $49.87 on January 30, 2024 and set a 52-week low on May 31, 2023 at $35.06.

New York Times Co is an American media company known for publishing its flagship newspaper, The New York Times. The company also operates the International New York Times newspaper, as well as digital properties such as nytimes and various smartphone applications. Circulation of The New York Times is the source of revenue for the company, followed by print and digital advertising and its paid digital-only subscription to The New York Times. The company has a daily print circulation of over 500,000 and 1,000,000 on Sundays. The source of growth for The New York Times is its digital subscription service, which has over 1,000,000 paid users.