NEW YORK (AP) — NEW YORK (AP) — The New York Times Co. (NYT) on Wednesday reported first-quarter net income of $87.9 million.
The New York-based company said it had net income of 54 cents per share. Earnings, adjusted for one-time gains and costs, were 61 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The newspaper publisher posted revenue of $712.2 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $694.5 million.
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