NYSE$NYT
The New York Times Co · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
NYT experienced strong revenue and profit growth, driven by subscription and advertising revenue streams.
The New York Times Company reported a strong second quarter in 2021, with diluted earnings per share of $0.32, up from $0.14 in the same period of 2020. Total revenues increased by 23.5% to $498.5 million, driven by growth in subscription and advertising revenues. The company ended the quarter with approximately 7,936,000 subscriptions across its print and digital products.
- Crossed 8 million paid subscriptions across digital and print products.
- Added 142,000 net digital subscriptions, with 77,000 in News and 65,000 in Cooking and Games.
- Adjusted operating profit increased by 78% compared to the same quarter in 2020, reaching $93 million.
- Digital advertising revenue increased by 79.6%, accounting for 63.0% of total Company advertising revenues.
Headline financials
Revenue & EPS history
NYT · Revenue · Quarterly
$498M
Revenue by segment
NYT · $303M total across 3 segments · Q2 2021
- Digital-only subscription$190M+30.3%62.8%
- Digital advertising$71M+79.6%23.4%
- Print advertising$41.8M+48.0%13.8%
Forward guidance
The Company expects subscription revenues to increase approximately 13% to 15%, with digital-only subscription revenue expected to increase approximately 25% to 30%. Total advertising revenues are expected to increase approximately 30% to 35%, with digital advertising revenue expected to increase approximately 40% to 45%. Other revenues in the third quarter of 2021 are expected to increase approximately 5 percent compared with the third quarter of 2020. Operating costs and adjusted operating costs in the third quarter of 2021 are expected to increase approximately 18 percent to 20 percent compared with the third quarter of 2020.
Tailwinds
- Total subscription revenues in the third quarter of 2021 are expected to increase approximately 13 percent to 15 percent compared with the third quarter of 2020.
- Digital-only subscription revenue expected to increase approximately 25 percent to 30 percent.
- Total advertising revenues in the third quarter of 2021 are expected to increase approximately 30 percent to 35 percent compared with the third quarter of 2020.
- Digital advertising revenue expected to increase approximately 40 percent to 45 percent.
- Other revenues in the third quarter of 2021 are expected to increase approximately 5 percent compared with the third quarter of 2020.
Headwinds
- Operating costs and adjusted operating costs in the third quarter of 2021 are expected to increase approximately 18 percent to 20 percent compared with the third quarter of 2020.
- The company continues to invest in the drivers of digital subscription growth and compare against the low spending last year as a result of actions taken during the first year of the pandemic.
- Depreciation and amortization: approximately $60 million.
- Interest income and other, net: $5 million to $7 million.
- Capital expenditures: approximately $50 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2021
-0.1%
Avg return
Earnings day
+0.8%
Avg return
5 days after
+3.8%
Avg return
30 days after
43%
29 / 68 earnings
Positive
+17.1%
Q1 2017
Best reaction
-23.1%
Q3 2012
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +6.8% | +0.0% | -0.5% | |
| Q4 2025 | -6.3% | -4.9% | +11.4% | |
| Q3 2025 | -0.3% | +8.4% | +12.1% | |
| Q1 2025 | -0.1% | +3.0% | +6.0% | |
| Q4 2024 | -11.9% | -11.9% | -11.9% | |
| Q3 2024 | -6.3% | -1.0% | -3.9% | |
| Q2 2024 | +3.0% | +3.3% | +1.6% | |
| Q1 2024 | +3.8% | +3.9% | +8.7% | |
| Q4 2023 | -9.9% | -8.7% | -10.8% | |
| Q3 2023 | +3.6% | +4.4% | +12.2% | |
| Q2 2023 | +7.5% | +8.6% | +9.3% | |
| Q1 2023 | -7.7% | -6.5% | -6.0% | |
| Q4 2022 | +9.3% | +7.4% | -0.6% | |
| Q3 2022 | +12.5% | +16.2% | +21.5% | |
| Q2 2022 | -0.9% | -0.5% | -1.6% | |
| Q1 2022 | -7.8% | -13.8% | -11.8% | |
| Q4 2021 | +0.8% | -1.4% | +11.5% | |
| Q3 2021 | -8.2% | -11.4% | -14.9% | |
| Q2 2021 | +8.6% | +9.8% | +19.7% | |
| Q1 2021 | -1.2% | -0.2% | -6.8% | |
| Q4 2020 | -0.6% | -2.7% | -0.8% | |
| Q3 2020 | -4.6% | -7.6% | +14.0% | |
| Q2 2020 | -0.7% | -4.9% | -7.4% | |
| Q1 2020 | +5.2% | +8.2% | +24.3% | |
| Q4 2019 | +9.4% | +13.0% | +9.6% | |
| Q3 2019 | -5.4% | -2.3% | +1.3% | |
| Q2 2019 | -14.4% | -20.2% | -14.7% | |
| Q1 2019 | +5.9% | -0.5% | -1.1% | |
| Q4 2018 | +13.7% | +16.1% | +23.9% | |
| Q3 2018 | +5.4% | +2.0% | +1.6% | |
| Q2 2018 | -6.0% | -6.4% | -6.0% | |
| Q1 2018 | -0.9% | -0.9% | +0.0% | |
| Q4 2017 | +8.8% | +9.0% | +11.7% | |
| Q3 2017 | -6.5% | -9.4% | -2.4% | |
| Q2 2017 | +5.2% | +4.1% | -0.5% | |
| Q1 2017 | +17.1% | +18.9% | +23.1% | |
| Q4 2016 | +5.9% | +8.1% | +7.7% | |
| Q3 2016 | -0.9% | +1.8% | +17.4% | |
| Q2 2016 | +1.5% | -0.1% | +2.0% | |
| Q1 2016 | -4.3% | — | — | |
| Q4 2015 | -2.3% | — | — | |
| Q3 2015 | +1.8% | — | — | |
| Q2 2015 | +0.0% | — | — | |
| Q1 2015 | +6.2% | — | — | |
| Q4 2014 | +9.2% | — | — | |
| Q3 2014 | -4.2% | — | — | |
| Q2 2014 | -9.3% | — | — | |
| Q1 2014 | -1.6% | — | — | |
| Q4 2013 | +4.2% | — | — | |
| Q3 2013 | -0.3% | — | — | |
| Q2 2013 | -2.1% | — | — | |
| Q1 2013 | -0.9% | — | — | |
| Q4 2012 | +5.2% | — | — | |
| Q3 2012 | -23.1% | — | — | |
| Q2 2012 | +9.3% | — | — | |
| Q1 2012 | -2.0% | — | — | |
| Q2 2011 | +0.8% | — | — | |
| Q4 2011 | +0.8% | — | — | |
| Q3 2011 | -0.8% | — | — | |
| Q1 2011 | +0.0% | — | — | |
| Q1 2010 | +0.0% | — | — | |
| Q2 2010 | -7.3% | — | — | |
| Q4 2008 | -7.3% | — | — | |
| Q4 2010 | -7.3% | — | — | |
| Q3 2010 | +0.5% | — | — | |
| Q3 2009 | +0.5% | — | — | |
| Q2 2009 | -3.4% | — | — | |
| Q4 2009 | -3.4% | — | — |
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