The New York Times grew its digital subscriber base by 180,000 and reported a profit of $46.6 million in its second quarter, the company announced Tuesday. For the second quarter in a row, more than half of new digital subscribers are “bundle” subscribers, CEO Meredith Kopit Levien said during an earnings call. Currently, more than a third of its nearly 10 million subscribers have bought more than one product. It reported a loss of $7.8 million during the second quarter, an improvement from last year, when it lost $12.1 million. By midmorning Tuesday, New York Times stock was trading at roughly $43.61 a share, up 6.83% since Monday’s close.

Source: New York Times August 08, 2023 21:39 UTC