Thursday, July 28, 2016

The New York Times Co reported its second quarterly loss in a row

New York Times reports another loss as ad sales decline

July 28, 2016

July 28 (Reuters) - The New York Times Co reported its second quarterly loss in a row as print and digital advertising sales declined.
Print ad revenue fell 14.1 percent, the eighth straight quarterly decline. Digital ad revenue, which accounts for about a third of total ad revenue, dropped 6.8 percent, the second straight quarterly decline.
The Times posted a net loss of $211,000 attributable to shareholders for the second quarter ended June 26, compared with a profit of $16.4 million the year-earlier quarter.
On an adjusted basis, the company earned 11 cents per share from continuing operations, matching the average analysts' estimate, according to Thomson Reuters I/B/E/S.
"Advertising was tougher in the quarter, particularly on the print side," Chief Executive Mark Thompson said in a statement on Thursday.
"In digital, we saw very strong growth in mobile, video and virtual reality, branded content and programmatic advertising."
However, this was not enough to offset declines in traditional web display, which led to an overall decline in digital advertising, he said.



San Diego Comic-Con Draws Record Crowds, Trash

       Fliers, posters and stickers were common items left behind, the Downtown San Diego Partnership reported.

No comments:

Post a Comment