The Great Satan’s (NY Times) Profits ↓ 22%, Costs ↑ 5.2% and AD Revenue ↓4.1%

Second-quarter advertising revenue at The New York Times Co. fell 4.1% from the quarter a year earlier, a decline driven by sagging print-ad sales, the company said Tuesday.

The drop is a return to the long-term pattern for the Times, where an ad-sales increase in the first quarter broke a three-year streak of ad-sales declines. The company said then that it expected to see ad sales go back to declines in the second quarter.
Overall second-quarter revenue was off 0.6% to $388.7 million, compared with $391.0 million in the second quarter of 2013.
Operating profit for the quarter slipped 21% to $55.7 million from $70.7 a year earlier, with costs up 5.2% partly because of increased marketing outlays.

Despite the declines in revenue and profit, the Times reported a 3.4% boost in digital advertising revenue to $41.5 million in the second quarter. Digital sales reached $79.3 million in the first six months of the year, up from $77.1 million during the same period last year.

New York Times’ Ad Revenue Returns to Decline

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