NYT Q1 2025 Earnings
Reported May 7, 2025 at 7:02 AM ET · SEC Source
Q1 25 EPS
$0.41
BEAT +19.88%
Est. $0.34
Q1 25 Revenue
$635.9M
BEAT +0.14%
Est. $635.0M
vs S&P Since Q1 25
+22.7%
BEATING MARKET
NYT +51.1% vs S&P +28.4%
Market Reaction
Did NYT Beat Earnings? Q1 2025 Results
The New York Times Company posted a convincing first-quarter earnings beat, with adjusted diluted EPS of $0.41 clearing the $0.34 consensus estimate by nearly 20% as revenue climbed 7.0% year over year to $635.91 million, edging past the $634.99 mill… Read more The New York Times Company posted a convincing first-quarter earnings beat, with adjusted diluted EPS of $0.41 clearing the $0.34 consensus estimate by nearly 20% as revenue climbed 7.0% year over year to $635.91 million, edging past the $634.99 million Wall Street expected. The headline driver was digital momentum: digital-only subscription revenues grew 14.4% to $335.03 million, fueled by 250,000 net new digital subscribers and a 3.6% rise in digital-only ARPU to $9.54 per billing cycle, as more subscribers rolled off promotional pricing. The Athletic added further fuel, swinging to an adjusted operating profit of $2.88 million from a loss of $8.69 million a year ago on a 27.9% revenue jump. Adjusted operating profit margin expanded 180 basis points to 14.6%, and free cash flow nearly doubled to $89.85 million. Looking ahead, management guided Q2 digital-only subscription revenue growth of 13% to 16%, signaling continued confidence in the company's subscription-driven model.
Key Takeaways
- • Digital-only subscriber growth of 250,000 net additions in Q1 and 1.15 million YoY
- • Digital-only ARPU increased 3.6% YoY driven by promotional-to-full-price transitions and price increases on tenured subscribers
- • The Athletic turned adjusted operating profitable for the first time, swinging from a $8.7M loss to $2.9M profit
- • Digital advertising revenues grew 12.4% from strong marketer demand and new advertising supply
- • Bundle and multiproduct subscribers grew to 5.76 million, up from 4.55 million a year ago
- • Lower effective tax rate (22.5% vs. 27.4%) due to stock-based award tax benefit
- • Approximately $33 million in proceeds from College Point land sale boosted operating cash flow
NYT YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
NYT Revenue by Segment
With YoY comparisons, source: SEC Filings
“As our first quarter results show, we've had a strong start to the year. Our strategy is working and our business is growing and demonstrating resilience amidst the current economic and geopolitical uncertainty. We have a diverse portfolio of world-class news coverage and leading lifestyle products; multiple, complementary revenue lines across subscriptions, advertising, affiliate and licensing; and a model that generates significant free cash flow and a strong balance sheet. All of which makes us confident we are continuing to build a larger, more profitable New York Times company.”
— Meredith Kopit Levien, Q1 2025 Earnings Press Release
NYT Earnings Trends
NYT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
NYT EPS Trend
Earnings per share: estimate vs actual
NYT Revenue Trend
Quarterly revenue: estimate vs actual
NYT Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $0.86 | $0.89 | +2.97% | $802.3M | +1.42% |
| FY Full Year | $2.38 | $2.46 | +3.46% | $2.82B | +0.40% |
| Q3 25 BEAT | $0.53 | $0.59 | +10.84% | $700.8M | +1.27% |
| Q2 25 BEAT | $0.51 | $0.58 | +12.71% | $685.9M | +2.42% |
| Q1 25 BEAT | $0.34 | $0.41 | +19.88% | $635.9M | +0.14% |