New York Times reports Q4 EPS 70c, consensus 58c

Reports Q revenue $676.22M , consensus $ $679.24M.The Company added approximately 300,000 net digital-only subscribers compared with the end of the third quarter of 2023, fueled by bundle and multi-product subscriber additions…Total digital-only average revenue per user ARPU grew 3.5 percent year-over-year to $9.24 primarily as a result subscribers graduating from promotional to higher prices and price increases on tenured non-bundled subscribers…Meredith Kopit Levien, president and chief executive officer, The New York Times Company, said, “2023was a strong year for The Times that showcased the power of our strategy to be the essential subscriptionfor every curious person seeking to understand and engage with the world. Our market leading news andlifestyle products commanded large and deeply engaged audiences, and our multi-revenue stream modelcontributed to improving profitability. We realized strong annual growth in earnings per share, adjustedoperating profit, and free cash flow, which each hit their highest point since our digital transformation began more than a decade ago.”