New York Times Sees Q3 2023 Digital-Only Subscription Revenues To Decrease 14%-17%
Portfolio Pulse from Benzinga Newsdesk
The New York Times Company has released its Q3 2023 guidance, predicting a 14-17% increase in digital-only subscription revenues, an 8-10% increase in total subscription revenues, and a mid-single-digit increase in digital advertising revenues. Total advertising revenues are expected to remain flat, while other revenues are projected to increase by 13-16%. Operating costs are expected to rise by 5-7%, with adjusted operating costs increasing by 5-8%. The company also expects depreciation and amortization to be around $80 million, largely due to the acquisition of The Athletic.
August 08, 2023 | 11:33 am
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The New York Times Company's Q3 2023 guidance indicates growth in digital-only subscription and total subscription revenues, as well as digital advertising revenues. However, total advertising revenues are expected to remain flat, and operating costs are projected to increase.
The projected increase in digital-only subscription and total subscription revenues, as well as digital advertising revenues, indicates a positive outlook for the company's digital business. However, the expected flat total advertising revenues and rising operating costs could potentially offset some of these gains.
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