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New York Times quarterly profit falls as costs rise

Published 02/03/2015, 09:03 AM
Updated 02/03/2015, 09:10 AM
© Reuters. People line up for taxi across the street from the New York Times head office in New York
NYT
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(Reuters) - New York Times Co (N:NYT) reported a 9.6 percent drop in quarterly net profit due to costs related to job cuts and increased spending on its digital offerings.

The company's net income attributable to shareholders from continuing operations fell to $35 million, or 22 cents per share, in the fourth quarter from $38.7 million, or 24 cents per share, a year earlier.

© Reuters. People line up for taxi across the street from the New York Times head office in New York

Operating costs rose 2.8 percent to $382.3 million. Revenue rose marginally to $444.7 million from $443.9 million.

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