New York Times (NYT) Revenues Fall With Small Hope From Internet

Reveue fell again at The New York Times Company (NYT). Overall revenue fell almost 4% to $789 million.  Operating profit excluding depreciation and amortization and special items declined 2.7 percent to $118.5 million from $121.8 million in the second quarter of 2006

Revenue at the news media group, the company’s newspapers and news online properties, fell 5% to $764 million. Revenue at the company’s About.com online service rose 27% to almost $25 million.

On the bright side, in the second quarter, the Company’s Internet revenues grew 23.4 percent to $80.9 million from $65.6 million in the second quarter of 2006. Internet businesses include digital archives, NYTimes.com, Boston.com, About.com and other Company Web sites. In total, Internet businesses accounted for 10.3 percent of the Company’s revenues in the second quarter versus 8.0 percent in the 2006 second quarter.

While the company’s online revenues are not yet filling in the hole created by falling print revenue, at least the number is getting closer.

Douglas A. McIntyre