NYTD - 8 Quarters of Profit

  • July 15, 2003
The New York Times Co. said its second-quarter net income fell 7.5%, as the effects of the SARS virus and the U.S.-led war in Iraq hampered advertising revenue, but the digital division is doing quite well. According to the earnings announcement, New York Times Digital has achieved 8 consecutive quarters of operating profit -- Q3 2001 through Q2 2003. The division hit a record operating profit this past quarter, as revenues for New York Times Digital grew 21.7% in the second quarter to $21.6 million from $17.8 million, and operating profit increased to a record $4.3 million from $1.9 million, primarily due to higher advertising revenues resulting from increased volume.
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