New York Times reports profit

The New York Times Co. reported slightly increased revenue of $367 million and net income of just over $9 million for the third quarter, helped in part by a slowed decline in print advertising, a rise in digital subscribers and the absence of severance costs that dragged on profit a year ago.

The company said it added 51,000 net digital subscribers in the quarter, the largest number since the fourth quarter of 2012.

Digital advertising, an important component of the company’s plan to double digital revenue to $800 million by 2020, decreased 5 percent. Print advertising revenue, the traditional bedrock of most newspapers, declined less than 1 percent.

The New York Times

This story was originally published October 29, 2015 at 2:49 PM with the headline "New York Times reports profit."