The New York Times Co. says its fourth-quarter earnings climbed more than threefold, helped by cost cutting, an improving ad market and a one-time gain from lower pension costs.
Shares rose 68 cents, or 5.8 percent, to $12.35 in premarket trading.
The publisher of The New York Times, The Boston Globe, the International Herald Tribune and 15 other daily newspapers had its smallest ad revenue decline in a year. It dropped 14.7 percent in the fourth quarter from the same period of 2008, compared with a 26.9 percent year-over-year decline during the third quarter.
That, along with layoffs and other cost-cutting steps, helped the Times Co. earn $90.9 million, or 61 cents per share. In the same quarter a year ago, it earned $27.6 million, or 19 cents per share.
Overall revenue fell 11.5 percent to $681 million.
(Source: WCBSTV)
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Don’t understand especially all the jewish subscribers to the NYT. I consider them a very unfriendly newspaper when it comes to Isreal. 90% or close to that figure is anti Isreal. What’s odd is that most of their writers are jewish. Than again most anti semites are. Can someone explain why they have so many Jewish subscribers? Doesn’t it bother you as a Jew that a newspaper like the NYT is pro arab. Don’t tell me it ain’t so. Take any story that relates to Jews or the state of Isreal & tell me your opinion.