NYT Q2 2025 Earnings
Reported Aug 6, 2025 at 7:02 AM ET · SEC Source
Q2 25 EPS
$0.58
BEAT +12.71%
Est. $0.51
Q2 25 Revenue
$685.9M
BEAT +2.42%
Est. $669.7M
vs S&P Since Q2 25
+16.6%
BEATING MARKET
NYT +30.5% vs S&P +13.9%
Market Reaction
Did NYT Beat Earnings? Q2 2025 Results
The New York Times delivered a standout second quarter of 2025, beating Wall Street on both the top and bottom lines as accelerating digital subscription growth powered results well ahead of expectations. Adjusted diluted EPS came in at $0.58, cleari… Read more The New York Times delivered a standout second quarter of 2025, beating Wall Street on both the top and bottom lines as accelerating digital subscription growth powered results well ahead of expectations. Adjusted diluted EPS came in at $0.58, clearing the $0.51 consensus by 12.71%, while total revenues climbed 9.7% year-over-year to $685.87 million, topping estimates by 2.42%. The primary engine was digital subscriptions, where revenues surged 15.1% to $350.35 million as the company added roughly 230,000 net digital-only subscribers in the quarter, pushing its total subscriber base to 11.88 million; rising ARPU of $9.64 reflected subscribers moving off promotional pricing onto higher-rate plans. Digital advertising added further momentum, growing 18.7% to $94.42 million, while The Athletic swung to a $5.79 million adjusted operating profit from a $2.40 million loss a year earlier. Operating profit jumped 34.2% to $106.55 million. Looking ahead, management guided for digital-only subscription revenue growth of 13-16% in Q3 2025, signaling continued confidence in its bundle-driven subscription strategy.
Key Takeaways
- • Digital-only subscriber growth of 230,000 net additions in Q2 and 1,080,000 YoY
- • Total digital-only ARPU increased 3.2% YoY to $9.64, driven by promotional-to-full-price transitions and price increases on tenured subscribers
- • Digital advertising revenues grew 18.7% due to new advertising supply in areas of strong marketer demand
- • The Athletic turned profitable with adjusted operating profit of $5.8 million vs. loss of $2.4 million a year ago
- • Bundle and multiproduct subscribers reached 6.02 million, up from 4.83 million a year ago
- • The Athletic advertising revenues nearly doubled, increasing 98.8%
NYT YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
NYT Revenue by Segment
With YoY comparisons, source: SEC Filings
“We had a great second quarter across the board, and our strategy continues to work as designed. We grew all of our major revenue lines and we're generating significant free cash flow. That, combined with a strong balance sheet, means we can keep investing in the unparalleled journalism and best-in-class product portfolio that we see as our enduring advantage. All of which makes us confident that continued execution against our strategy will deliver even more value to even more people, and result in a larger and more profitable business.”
— Meredith Kopit Levien, Q2 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% |