New York Times Q1 2024 Adj EPS $0.31 Beats $0.20 Estimate, Sales $594.000M Beat $591.914M Estimate
Portfolio Pulse from Benzinga Newsdesk
New York Times (NYSE:NYT) reported Q1 2024 earnings of $0.31 per share, surpassing the consensus estimate of $0.20 by 55%. Sales reached $594M, exceeding estimates of $591.914M and marking a 5.93% increase from the previous year.
May 08, 2024 | 11:03 am
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New York Times reported a significant beat on both earnings and sales estimates for Q1 2024, with EPS at $0.31 against a $0.20 estimate and sales of $594M against a $591.914M estimate.
Beating earnings and sales estimates typically leads to positive investor sentiment and can result in a short-term stock price increase. The significant beat on both fronts for NYT, especially with a 55% beat on EPS estimates, is likely to boost investor confidence and drive up the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100