![]() Our proven model does not conclusively predict an earnings beat for The New York Times Company this time. The company had earlier forecast an increase of approximately 6-8% in adjusted operating costs for the first quarter. For the first quarter, The New York Times Company projected a low-single-digit decline in both digital advertising revenues and total advertising revenues.Īdditionally, any deleverage in expenses related to product development, sales and marketing, as well as general and administrative, might have weighed on margins. ![]() However, the current geopolitical and macroeconomic environment and a reduction in marketer spend on advertising might have weighed on digital advertising revenues. The company has not only been gearing up to become an optimum destination for news and information but also focusing on lifestyle products and services. It has been diversifying the business, adding new revenue streams and streamlining operations to increase efficiencies. The New York Times Company has been making concerted efforts to lower its dependence on traditional advertising and focus on digitization. On its last earnings call, management guided a year-over-year increase of about 6-9% in total subscription revenues and a rise of approximately 13-16% in digital-only subscription revenues for the first quarter of 2023. The New York Times Company price-consensus-eps-surprise-chart | The New York Times Company Quote The New York Times Company Price, Consensus and EPS Surprise Its acquisitions of the product review website, Wirecutter, and the digital subscription-based sports media business, The Athletic, have helped expand the addressable market. Moreover, it has been utilizing technological advancements to reach the target audience more effectively. The company’s business model, with a greater emphasis on subscription revenues, bodes well. The New York Times Company has been diversifying the business, adding revenue streams, realigning the cost structure and streamlining operations to increase efficiency. In the last reported quarter, the company’s bottom line surpassed the Zacks Consensus Estimate by a margin of 34.1%. The company has a trailing four-quarter earnings surprise of 23.5%, on average. We expect The New York Times Company to generate revenues of $562.4 million, suggesting an increase of 4.7% year over year, and post earnings of 15 cents a share. The consensus estimate has been stable over the past 30 days. The Zacks Consensus Estimate for earnings per share is pegged at 16 cents. The Zacks Consensus Estimate for revenues is pegged at $564.4 million, indicating an improvement of 5% from the prior-year reported figure. The New York Times Company ( NYT Quick Quote NYT - Free Report) is likely to register an increase in the top line when it reports first-quarter 2023 numbers on May 10 before market open.
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