New York Times Stock Soars: Q2 Subscriber Growth, Strong Outlook and More
Portfolio Pulse from Anusuya Lahiri
New York Times Co (NYSE:NYT) reported Q2 FY23 sales growth of 6.3% YoY to $590.9 million, beating the consensus of $578.1 million. The company's adjusted EPS was $0.38, surpassing the analyst consensus of $0.21. The growth in subscribers, which increased by 7.7% to 9.88 million, contributed to the strong earnings performance. The company's Q3 outlook forecasts total subscription revenue growth of 8% - 10% and Digital-Only subscription revenue growth of 14% - 17%. Following the announcement, NYT shares rose by 8.06%.
August 08, 2023 | 7:44 pm
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POSITIVE IMPACT
New York Times Co reported strong Q2 FY23 results, beating consensus estimates. The growth in subscribers contributed to the strong earnings performance. The company's positive Q3 outlook may further boost investor confidence.
The New York Times Co's strong Q2 FY23 results, which beat consensus estimates, and the growth in subscribers, are positive indicators for the company. The positive Q3 outlook suggests that the company expects this strong performance to continue, which may further boost investor confidence and potentially lead to an increase in the company's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100