The New York Times Building in Manhattan, New York, U.S., August 3, 2020. REUTERS/Shannon Stapleton/File Photo
New york Times Co noted Tuesday that advertisementadvertising spending was picking up faster than market expectations after the newThe s publisher beat Wall Street estimates for second–room resultsraising its shares by more than 6 percent.
The company has been packaging access to news reports and articles with a diverse portfolio of products, from podcasts and games to product recommendations, as it seeks to increase engagement and retain users.
Demand of advertisementvertisement spots is in a rebound after economic uncertainty forced companies to cut advertisement spent. Hospitality, travel and retail are among the sectors driving advertisement spend.
He New york Times full wait advertisementadvertising revenue will remain flat in the third roomwhile analysts estimate a drop of 4.1 percent, according to Refinitiv data.
TO rebound in marketGovernment spending helped the digital technology of the NYT. advertisementadvertising revenue grows 6.5 percent in the April-June period.
The company deployed advertisementProduct advertising throughout your package, including your games and sports. news offers The Athletic, boosting digital advertisement revenue, Chief Executive Officer Meredith Levien said on a post-earnings call with analysts.
“The bear case…probably focused on potential digital issues advertisementadvertising weak revenue and that’s not working,” said Vasily Karasyov, an analyst at Cannonball Research.
Analysts and industry experts expect the demand for advertisementvertising to increase in the second mid-year, as inflation cools.
NYT posted revenue of $590.9 million for the second roomcompared to estimates of $580.5 million.
The company reported an average revenue per user (ARPU) for combined subscriptions of $13.40, compared to a total digital-only ARPU of $9.15.
NYT advertisementded 180,000 digital-only subscribers in the second roomcompared to 190,000 in the first room. It has a goal of 15 million subscribers by 2027.
In a advertisementOn a fair basis, the company earned 38 cents per share, compared with estimates of 21 cents.
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