The New York Times building is seen in Manhattan, New York, August 3, 2020.
New York Times posted fewer-than-expected digital subscribers for the third quarter as readers cut back on spending in an uncertain economy, offsetting strong growth in advertising sales.
The company added 260,000 digital-only subscribers, compared with 300,000 additions in the previous quarter.
New York Times forecast subscription revenues to grow by 7% to 9% in the fourth quarter, slightly below expectations for 8.2% growth.
Revenue from sports news site The Athletic, purchased by the New York Times in 2022, jumped 29.8% to $44.7 million from $34.4 million a year ago.
Organizations:
New York Times, LSEG, Athletic
Locations:
Manhattan , New York