The following is a comment from Maria A. Pallante, President and CEO, Association of American Publishers:
“We are extremely pleased that the district court has approved the proposed consent judgment. As we have stated before, it is an appropriately serious bookend to a decisive finding that so called “controlled digital lending” is nothing more than copyright infringement.”
see more at: https://publishers.org/wp-content/uploads/2023/08/Hachette-v.-IA-Consent-Judgement-and-Permanent-Injunction-Subject-to-Reservation-of-Right-to-Appeal.pdf
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Third Quarter Highlights *Delivered sales of $3.9 billion, up 16.9%, compared to the third quarter of 2021 on a reported and daily basis; up 20.3% on a daily, constant currency basis *Expanded gross margin by 145 bps compared to the third quarter of 2021 *Generated operating earnings of $603 million, up 37.6%, resulting in diluted EPS of $8.27, an increase of 46.4% versus the third quarter of 2021 *Produced $380 million in operating cash flow and returned $286 million to shareholders through dividends and share repurchases
“Recognizing that issues in certain facilities across the country continue to hamper service performance, we have come together to form a National Joint Task Force on Service Performance to identify and craft solutions to improve service at specific locations within the network. Members of the Joint Task Force will work together on making necessary changes to strengthen service reliability, share best practices and stay vigilant to any emerging issues. The National Task Force will also ensure resources are allocated, lines of communication are open and concerns that are not resolved locally are escalated quickly. Maintaining strong service performance is a process, not a destination; through weather, natural disasters and a holiday season in the midst of a pandemic. Mail never stops flowing through our system. If bottlenecks occur it can have a cascading impact on the network. Addressing issues early can make all the difference.” The National Task Force held their first meeting on March 22.
The New York Times Company announced second quarter 2023 diluted earnings per share of $.28 compared with $.37 in the same period of 2022. Operating profit increased to $55.8 million in the second quarter of 2023 from $51.7 million in the same period of 2022, and adjusted operating profit (defined below) increased to $92.2 million from $76.2 million. In each case, the increase was due to higher digital subscription and other revenues, partially offset by higher operating costs.