🔴 New York Times is trading 8.8% down today on soft Q3 subscription growth outlook

New York Times is trading 8.8% down at $68.92 following a classic beat-and-drop earnings reaction where cautious forward guidance overshadowed strong Q2 results.

• The company exceeded Q2 estimates with 11.2% revenue growth to $762.5M and adjusted EPS of $0.69, driven by robust digital subscriptions and advertising.
• Management warned that subscription revenue growth is expected to slow in Q3 2026, shifting investor focus toward a softer growth outlook.
• The stock is under pressure as the market reacts to the long-term guidance rather than the reported quarterly beat.