Revenue at the New York Times Company fell once again in the third quarter due to ongoing advertising declines in both print and digital as the company posted earnings of 2 cents a share, 6 cents below what analysts had predicted. Operating profit for the quarter was $8.5 million compared to $21 million from a year ago.
Overall advertising revenue declined 8.9 percent but the company did see a bright spot in the form of a 7.4 percent increase in circulation revenues. Digital subscriptions to the New York Times and the International Herald Tribune were up 11 percent since the last quarter to a total of 566,000. The Boston Globe added 3000 new digital subscribers for a total of 26,000 at the end of the last quarter.