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| New York Times 2Q profit drops 82 percent |
| 2008-07-23 |
| New York Times Co. says its second-quarter earnings fell 82 percent from the year-ago quarter boosted by a one-time gain. Meanwhile, print advertising revenue continued to shrink. The New York-based newspaper publisher says its quarterly net income dropped to $21.1 million, or 15 cents per share, which included 11 cents per share in buyout costs. Analysts polled by Thomson Financial expected income of 22 cents per share in the latest quarter. Analyst estimates typically exclude special items. Revenue dropped 6 percent to $741.9 million, missing the average Wall Street estimate for $754 million. Ad revenue slipped down 11 percent, hurt mostly by fewer classified ads. Chief Executive Janet Robinson says business was hurt by the "U.S. economic slowdown and secular forces playing out across the media industry." Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. |
| Posted by:tipper |
| #13 Pay-Per-View Times Select Op-Eds worked out sooooo well for them. I hope they end up in layoffs determined by who loses in caged death-matches with sharpened back-stabbers (anti-American versions, of course) |
| Posted by: Frank G 2008-07-23 21:38 |
| #12 Right, not write. Darn it! |
| Posted by: Eric Jablow 2008-07-23 21:38 |
| #11 “Secular” here might mean long-term, nonperiodic changes, as in astronomy. In that case, she'd be write. |
| Posted by: Eric Jablow 2008-07-23 21:37 |
| #10 You mean their web advertising isn't making up for their loss of paper advertising? I thought the Internet was the problem causing the paper to lose circulation ... their website should make up for all that, right? |
| Posted by: crosspatch 2008-07-23 21:00 |
| #9 "secular forces playing out across the media industry" Translation: those fools who are too stupid and/or venal to accept the unquestionable revealed truths of Marxism and Gaia-worship. I'd bet this bitch would love to be Torquemada at another Inquisition, this time run by the Church of the Holy Watermelons. |
| Posted by: Jomock Platypus9662 2008-07-23 19:16 |
| #8 Manolo! Bring the car around! And notify my crack whores! |
| Posted by: Pinchy 2008-07-23 16:55 |
| #7 Alternative headline: "Readers refuse to pay for a pack of lies" or "Kittylitter is cheaper and more effective." |
| Posted by: JohnQC 2008-07-23 16:55 |
| #6 Faster please! |
| Posted by: Grease Dark Lord of the Algonquins9226 2008-07-23 16:52 |
| #5 Aka, those nasty right wing bloggers who are part of the VRWC!!! Thanks, DV. I wondered what she meant. |
| Posted by: Ebbang Uluque6305 2008-07-23 16:38 |
| #4 They still don;t get it: Its market economics. If you are making somehting that few people want, you will sell less of it. Coke was smart enough to reverse "New Coke". But the NYT keeps on accelerating to the bottom, with their idealogical blinders making them oblivious to the reasons why few trust them any more and therefore fewer read them. Sacrificing truth and objectivity for liberal spin and partisanship is what killed the NYT. |
| Posted by: OldSpook 2008-07-23 15:23 |
| #3 ...secular forces playing out across the media industry. Aka, those nasty right wing bloggers who are part of the VRWC!!! Bitch, please go off and die like your newspaper is doing. We don't want to read your communist propaganda anymore. |
| Posted by: DarthVader 2008-07-23 15:20 |
| #2 I love the smell of schadenfreude in the morning! |
| Posted by: xbalanke 2008-07-23 15:15 |
| #1 Chief Executive Janet Robinson says business was hurt by the "U.S. economic slowdown and secular forces playing out across the media industry." She then left early to start drinking. |
| Posted by: tu3031 2008-07-23 15:15 |