New York Times Falls On Subscriber Miss, Weak Ad Sales
The New York Times headquarters in New York, US.
Photographer: Shelby Knowles/BloombergThis article is for subscribers only.
New York Times Co. shares fell as much as 10%, the biggest intraday loss since June 2022, after the publisher reported fourth quarter advertising sales that were less than the company expected and subscriber numbers missed Wall Street estimates.
Digital ad sales fell 3.7% to $107.7 million, the Times said Wednesday, down from $111.9 million in the fourth quarter of 2022.