New York Times Co (NYT) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $0.10 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.08. The company posted revenue of $379.50 million in the period, compared to analysts expectations of $377.50 million. The company’s revenue was down -1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS.
New York Times Co opened for trading at $12.82 and hit $12.92 on the upside on Monday, eventually ending the session at $12.88, with a gain of 0.47% or 0.06 points. The heightened volatility saw the trading volume jump to 9,79,431 shares. Company has a market cap of $2,064 M.
In a different news, on Nov 30, 2015, R Anthony Benten (SVP, Finance & Controller) sold 6,600 shares at $14.05 per share price. According to the SEC, on Nov 20, 2015, James M Follo (EVP & CFO) sold 55,000 shares at $13.87 per share price. On May 28, 2015, Michael Golden (Vice Chairman) sold 76,667 shares at $14.14 per share price, according to the Form-4 filing with the securities and exchange commission.
The New York Times Company is a media organization focused on creating collecting and distributing news and information. The Company includes newspapers digital businesses and investments in paper mills. The Companys businesses include The New York Times (The Times); the International New York Times (INYT) the international edition of The Times; its Websites NYTimes.com and international.nytimes.com and related businesses such as The Times news services division digital archive distribution conferences business and other products and services. The Times is a daily (Monday to Saturday) and Sunday newspaper and INYT is a daily newspaper. The Companys content reaches its audience through its print products online and through other digital media including smartphone tablet and e-reader applications. The Company generates revenues principally from circulation and advertising.