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New York Times Down 7.5% After Warning Subscription Revenue Will Slow in Q3
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TheWrap
Shares, however, fell about 8.7% in premarket trading after the company warned subscription revenue would slow in the current period.
The outlook suggests that subscription revenue growth would moderate despite another quarter of subscriber gains.
Digital-only subscription revenue increased 16.4% to $409.7 million, driven by growth in both digital-only subscribers and average revenue per user.
Looking ahead, it said it expects digital advertising revenue to continue growing year over year, while digital-only subscription revenue would grow 12% to 15% in the third quarter.
Digital-only subscription revenue grew 16.4% in the second quarter.