For the New York Times, a Profit Shortfall

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It's the same old story for the New York Times: Digital subscriptions continue to rise, but not enough to offset falling revenues and earnings.

Profit fell 21% to $55.7 million or $0.07 a share, versus the average analyst estimate of $0.085 in The New York Times Company's second quarter. An overall 4.1% slump in overall ad revenues weighed on the results as did increased investments in "strategic initiatives," the company said.

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A 32,000 jump in digital-only subscribers, fueled by new products like the NYT Now app, Times Premier and an Opinion app, brought the total number of paid digital subscribers to 831,000 Read more...

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