New York Times reports Q3 adjusted EPS 45c, consensus 41c

Reports Q3 revenue $640.18M, consensus $640.8M. The company added approximately 260,000 net digital-only subscribers. Total digital-only average revenue per user increased 1.8% year-over-year to $9.45. Meredith Kopit Levien, president and chief executive officer, The New York Times (NYT) Company, said, “The third quarter was another strong one for The Times as we made further progress toward becoming the essential subscription for every curious person seeking to understand and engage with the world. We passed 11 million total subscribers in the quarter, more than five million of whom now subscribe to the bundle or multiple products. Our world-class news coverage and premium lifestyle products meet complementary user needs, and drive revenue growth across subscriptions, advertising, affiliate and licensing. We believe that portfolio, and our ability to keep adding value to it over time, is what makes The Times resilient in a changing media landscape, and well-positioned to become a larger, more profitable company.”