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NY Times Reports Increased Ad Revenue, Both Digital and Print

April 24, 2014
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.

The Times has launched two new products in recent weeks, the NYT Now app for mobile device users, and Times Premier, a premium news and information service that costs on top of a regular subscription.

NYT Now "in particular is being embraced by the market," Thompson said.

The company's shares were up 0.8% at $16.74 in midday trade.

Copyright Agence France-Presse, 2014

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