N.Y. Times Revenue Down Again In Q3
October 23, 2008 at 10:27 AM (PT)
THE NEW YORK TIMES CO. overall third-quarter revenue dropped 8.9% to $687 million in preliminary figures released TODAY, with net income off 51% to $6.5 million (5 cents/share). The drop nevertheless beat analysts' estimates of 4 cents/share. Ad revenue fell 14%, offset partly by a 6.8% reduction in operating costs.
The company does not release results for its only radio property, Classical WQXR/NEW YORK.