The New York Times Company Reports 2021 Fourth-Quarter and Full-Year Results

The New York Times Company (NYSE: NYT) announced today fourthquarter 2021 diluted earnings per share from continuing operations of $.41 compared with $.06 in the same period of 2020. Adjusted diluted earnings per share from continuing operations (defined below) was $.43 in the fourth quarter of 2021 compared with $.40 in the fourth quarter of 2020.

Operating profit increased to $94.1 million in the fourth quarter of 2021 from $80.5 million in the same period of 2020 and adjusted operating profit (defined below) increased to $109.3 million from $97.7 million in the prior year, as higher advertising, subscription and other revenues more than offset higher costs.

Meredith Kopit Levien, president and chief executive officer, The New York Times Company, said, “Our performance in 2021 demonstrated the power of our digital-first, subscription-first approach as we posted our second-best year ever for net subscription additions and strongest operating profit and adjusted operating profit in many years, which was a result of our consistent strategy and focus. Since we launched our current strategy in 2015, we’ve been investing steadily into a once-in-a-generation opportunity to pioneer the development of a large and growing news and information market at a time when habits are up for grabs. Our priority from here is to continue this momentum by further penetrating our growing total addressable market and leveraging both our unique platform and the deliberate investments we’ve made in our journalism, technology, and adjacent products to build a larger and more profitable New York Times Company. For the third time in six years, we are setting a new, more ambitious target as we pursue the next phase in our growth journey.
more at: https://s23.q4cdn.com/152113917/files/doc_news/2022/02/NYT-Press-Release-12.26.2021-PpCb082.pdf

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