New York Times reports Q2 EPS 45c, consensus 40c

Reports Q2 revenue $625.1M, consensus $625.18M. The company added approximately 300,000 net digital-only subscribers. Total digital-only average revenue per user increased 2.1%. Meredith Kopit Levien, president and chief executive officer, The New York Times Company, said, “It was a strong second quarter for The Times – one in which we made further progress on the path to grow our subscriber base and become the essential subscription for every curious person seeking to understand and engage with the world. The combination of our world-class news destination plus market-leading lifestyle products means we have complementary offerings in big spaces, each with multiple growth levers fueling multiple revenue streams. Together we believe these make The Times resilient in a changing media landscape and well positioned for continued value creation.”