New York Times' second quarter revenue rose 11.2% to $762.5M, beating estimates on strong digital growth.

The New York Times Company reported second-quarter revenue of $762.5 million, up 11.2% year-over-year, and adjusted EPS of $0.69, beating analyst expectations. The results were driven by strong growth in digital-only subscriptions and digital advertising.

Key Highlights

• Digital-only subscription revenue grew 16.4% year-over-year to $407.9 million, landing at the high end of the company's guided range.
• Digital advertising revenue increased a strong 20.7% year-over-year to $114.0 million, reflecting robust marketer demand.
• The company added 280,000 net new digital-only subscribers in the quarter, bringing the total to 12.80 million.