The New York Times Company Reports First-Quarter 2022 Results

The New York Times Company (NYSE: NYT) announced today first-quarter 2022 diluted earnings per share from continuing operations of $.03 compared with $.24 in the same period of 2021. Adjusted diluted earnings per share from continuing operations (defined below) was $.19 in the first quarter of 2022 compared with $.26 in the first quarter of 2021.

Operating profit decreased to $6.3 million in the first quarter of 2022 from $51.7 million in the same period of 2021 largely as a result of one-time costs related to the acquisition of The Athletic Media Company (“The Athletic”), which occurred in the first quarter of 2022, as well as a result of operating losses at The Athletic. Adjusted operating profit (defined below) decreased to $60.9 million from $68.1 million in the prior year, as a result of operating losses at The Athletic. Adjusted operating profit at The New York Times Group was largely unchanged at $67.7 million as digital subscription and advertising revenue growth was offset by higher costs.

Meredith Kopit Levien, president and chief executive officer, The New York Times Company, said, “We’re off to a strong start on the next phase of our strategy, which is to become the essential subscription for every English-speaking person seeking to understand and engage with the world. We believe we have a tremendous opportunity to win a larger share of a still-growing market. We’re confident that we can attract, retain and monetize subscribers and drive profitable growth as we progress towards our goal of 15 million subscribers by the end of 2027.

“Our coverage of the war in Ukraine has been continuous and comprehensive and our readers have responded in large numbers and with deep engagement. Our ability to lead on and engage our audience in the biggest, most consequential stories of our time underpins our confidence in our strategy. “While we experienced real momentum in news, it was not the only driver of strength in the quarter. Wordle brought an unprecedented tens of millions of new users to The Times, many of whom stayed to play other games which drove our best quarter ever for net subscriber additions to Games and we’re off to a great start on our work with The Athletic.
details at: https://s23.q4cdn.com/152113917/files/doc_news/2022/05/NYT-Press-Release-3.27.2022-Final-O2ACvs2.pdf

Related Posts

Big Victory for ACMA Members: Massachusetts Supreme Court Invalidates Tax Department’s Assessments

As ACMA attorneys Martin Eisenstein and Nat Bessey wrote in Part One) of their two-part Legal Corner series to members last month (unlocked version here for non-members too), a major issue for the industry was the effort of the Massachusetts Department of Taxation to apply the Supreme Court’s ruling in South Dakota v. Wayfair retroactively and assess many ACMA members and other remote merchants retroactively for sales tax liabilities for periods prior to the Supreme Court’s decision in Wayfair. Brann & Isaacson is proud to announce that today we received a favorable, and unanimous, decision of the Massachusetts Supreme Judicial Court invalidating the Department’s assessment. The Court found that absent a physical presence in Massachusetts, the Department did not have the authority to assess sales taxes based upon Internet contacts. The Court held that cookies/apps/content delivery networks do not constitute physical presence. This is a significant victory for the industry and a great holiday present. Thank you to all ACMA members and other companies for your support in this effort. link to full report: https://catalogmailers.org/member-exclusive-acmas-legal-corner-state-and-local-agencies-are-at-it-again-in-sales-tax-actions-pt-1-of-2-2/

USPS Announces Recommended Mailing and Shipping Dates for 2024 Holiday Season

The following are recommended send-by dates for expected delivery before Dec. 25. 2024 Holiday Mailing and Shipping Dates for Items Sent to Addresses in the Contiguous United States (Lower 48 States): USPS Ground Advantage service: Dec. 18; First-Class Mail service: Dec. 18; Priority Mail service: Dec. 19; Priority Mail Express service: Dec. 21. 2024 Holiday Mailing and Shipping Dates for Items Sent to Addresses in Alaska and Hawaii: USPS Ground Advantage service: Dec. 16; First-Class Mail service: Dec. 18; Priority Mail service: Dec. 19; Priority Mail Express service: Dec. 20

L&D Activities Led by AI? No Thanks, Say Workers in New Wiley Survey

Workers express little interest in seeing learning and development (L&D) activities taken over by artificial intelligence (AI), according to new survey data from Wiley. Nearly six in ten respondents (59%) in the latest Wiley Workplace Intelligence report, Artificial Intelligence in Learning and Development: Five Surprising Facts You Need to Know, say they prefer to see an instructor—in-person or virtual—direct their workforce development learning, while only 7% prefer AI-directed learning. In addition, the vast majority (87%) of respondents say they want the L&D content to be developed by a subject matter expert as opposed to AI technology (12%). “When it comes to learning and development, employees crave a human connection,” said Dr. Mark Scullard, senior director of product innovation at Wiley. “They want a person to create and lead their instruction, even if it’s in an online setting.”
Back To Top
×Close search
Search