New York Times is trading 11.1% down at $65.42 after its latest earnings call delivered strong Q2 results but warned of a subscription growth slowdown in the third quarter.
- The stock is seeing a classic beat-and-drop reaction, with investors focusing more on management’s cautious Q3 subscription revenue outlook than on the strong quarterly performance.
- The downward move comes despite the company reporting better-than-expected revenue and EPS for the second quarter.