NY Times gains thousands of digital subs; rev falls
The New York Times
The updated subscriber data comes as the company on Thursday reported lower revenue and a loss mainly due to a writedown of assets at its regional media group.
Total revenue in the quarter fell 2.2 percent to $576.7 million, dragged down by a decline in print advertising.
The company reported a second-quarter net loss of $119.7 million, or 81 cents loss per share, compared with net income of $32 million, or 21 cents per share, for the same period last year.
The loss resulted from a non-cash charge of 93 cents per share primarily at its regional media group, which includes newspapers in California, Florida and other states in the southeast.
Excluding severance and other special items, the company earned 14 cents per share, beating analysts' average estimate of 9 cents per share, according to Thomson Reuters I/B/E/S.
(Reporting by Jennifer Saba; Editing by Steve Orlofsky)
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