NY Times reports revenue growth since 2007

Posted by Erina Lin on July 22, 2010 at 2:43 PM

The New York Times Co. posted its quarterly revenue up slightly, the first increase in quarterly revenue since the quarter of 2007, as digital advertising increased at double digits and helped offset the downturn of print advertising, AFP reported.

Its second-quarter revenue increased to $589.6 million from $584.5 million one year ago. Net income was down a little, to $32 million, or 21 cents a share, from $39.1 million, or 27 cents, year-over-year, according to a company statement.

Digital advertising revenue boosted 21 percent, which made it 26 percent of total ad revenue, compared to 22 percent a year earlier. Although print advertising slipped 6 percent, it improved from the 12.3 percent decline in the previous quarter, Bloomberg reported.

Overall ad revenue totaled $314.9 million, while circulation revenue gained 3.2 percent to $234.8 million, as it raised subscription and newsstand price for both the Times and the Globe, the Associated Press reported.

"We experienced positive trending in both print and digital advertising revenues," according to Times Co. president and chief executive Robinson said in a statement.