New York Times jumps on earnings beat

Shares of the The New York Times jumped in premarket trading Thursday after the company reported third quarter earnings that beat on both the top and bottom lines.

Here’s how the company did compared with what Wall Street expected:

  • Earnings: 15 cents per share vs. 11 cents, forecast by Refinitiv
  • Revenue: $ 417.3 million vs. $ 408.5 million, forecast by Refinitiv

The stock traded as much as 27 percent higher after the report, but later eased off. It was set to open roughly 7 percent higher Thursday.

The company’s 3-million-plus total digital subscriptions is an increase of 24 percent from the year-ago period. The digital subscriptions category includes subscriptions to the company’s news content as well as include standalone subscriptions to the daily crossword and to the company’s Cooking app.

This story is developing. Please check back for updates.

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