What is in this article?:
- NY Times Reports Increased Ad Revenue, Both Digital and Print
- Surprise: Print Ad Revenue Up
The New York Times says ad income in both its print and digital editions increased for the first time in three years during the first quarter.
NEW YORK -- The New York Times (IW 500/374) said Thursday that advertising income in both its print and digital editions increased for the first time in three years during the first quarter.
Despite lower profits in the January-March period -- blamed in part on the cost of recent strategic investments -- the newspaper group said there was a firm upturn in both advertising and circulation revenues.
Circulation brought in $209.7 million, a 2.1% gain from a year ago, and advertising earned $158.7 million, up 3.4%.
But costs rose at a faster pace, leaving operating profits at $22.1 million, down from $28.1 million in the first quarter of 2013.
Overall profits fell 51% to $1.7 million, or two cents a share.
Gains online were the strongest, as traditional print newspapers generally continued to shrink against the rise of Internet and mobile-available news.
The times said its paying digital subscribers rose to 799,000, 39,000 more than at the end of 2013.