CORRECTION: New York Times Expects 1Q24 Adjusted Basis Digital-only Subscription Revenue Growth 11% - 14%, Total Subscription Revenues Growth 7% - 9%
Portfolio Pulse from Benzinga Newsdesk
The New York Times Company (NYT) projects an increase in digital-only subscription revenues by 11-14%, total subscription revenues by 7-9%, and digital advertising revenues by low-to-high-single-digits for Q1 2024. However, total advertising revenues are expected to decrease by mid-single-digits, while other revenues may see a mid-single-digit increase. Adjusted operating costs are anticipated to rise by 5-7%.
February 07, 2024 | 12:18 pm
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The New York Times Company expects significant growth in digital-only and total subscription revenues for Q1 2024, with a slight increase in digital advertising revenues but a decrease in total advertising revenues.
The projected growth in digital-only and total subscription revenues indicates a strong and growing customer base, which is a positive sign for investors. The increase in digital advertising revenues, despite a decrease in total advertising revenues, suggests a shift towards more profitable digital platforms. However, the decrease in total advertising revenues and the increase in operating costs could offset some of the positive impacts, making the overall outlook cautiously optimistic.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100