The New York Times Company reported a strong financial performance for the first quarter of 2025, with total revenues reaching $635.9 million, a 7.1% increase from $594.0 million in the same period last year. Subscription revenues were a significant contributor, rising 8.2% to $464.3 million, driven by a 14.4% increase in digital-only subscription revenues, which totaled $335.0 million. Advertising revenues also saw a modest increase of 4.2%, amounting to $108.1 million, primarily due to a 12.4% rise in digital advertising, although print advertising revenues declined by 8.5%.
The company's operating profit increased by 21.3% to $58.6 million, compared to $48.3 million in the first quarter of 2024. This growth in profitability was attributed to higher revenues and a more favorable operating profit margin, which improved to 9.2% from 8.1% year-over-year. Net income for the quarter was $49.6 million, a 22.6% increase from $40.4 million in the prior year, resulting in diluted earnings per share of $0.30, up from $0.24.
In terms of strategic developments, The New York Times Company added approximately 250,000 net digital-only subscribers during the quarter, bringing the total to about 11.66 million subscribers, including 11.06 million digital-only subscribers. The company reported that 5.76 million of these were bundle and multiproduct subscribers. The average revenue per user (ARPU) for digital-only subscribers increased by 3.6% to $9.54, reflecting a shift in pricing strategies and subscriber upgrades.
Operationally, the company faced increased costs, with total operating costs rising 5.8% to $577.3 million, driven by higher journalism and subscriber servicing costs. Notably, the company recorded $4.4 million in litigation costs related to a lawsuit against Microsoft and OpenAI regarding generative AI, which was classified as a special item. Looking ahead, The New York Times Company remains focused on navigating the competitive media landscape while continuing to expand its digital offerings and subscriber base, despite ongoing challenges in the advertising market and the transition from print to digital.
About NEW YORK TIMES CO
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