Business cost reductions help to fuel quarterly profit at The New York Times The New York Times announced its quarterly earnings this week, surprising investors and analysts by posting a $15.7 million profit.

The Times had struggled to adapt to the shift in reader habits from the print to digital sphere, but company officials said that its attempts to lure subscribers to pay for content helped prompt an uptick in earnings. The Times introduced a paywall earlier in the year and said revenue increased as a result of the policy.

Moreover, The Times managed to achieve business cost reductions across a number of divisions, company officials said, helping to fuel a profit. The results were especially positive compared to the same period in 2010, when the firm reported a loss of $4.3 million.

Company officials said business costs fell by 3.6 percent in the quarter because of the increased focus on efficiency. The Times also said total circulation grew by 3.4 percent to $237 million in the quarter.

"Despite a challenging advertising environment, our operating profit grew," Times Company chief executive Janet L. Robinson said. "These results highlight the strength of The Times brand and its ability to further monetize its world-class news, analysis and commentary."

Share To:

Strategic Sourceror

Post A Comment:

0 comments so far,add yours