New York Times, Quarterly Earnings | featured news

While advertising continued to fall, The New York Times Company, which is repositioning itself for a digital age, said circulation revenue rose 6.5 percent in the first quarter.

New York Times profit tripled in the fourth quarter thanks to one-time items, including the sale of its share in Indeed.com, but the underlying business continued to erode on sharp advertising declines.

(Reuters) - The New York Times Co reported worse-than-expected results on Thursday as advertisers cut spending on both print and digital outlets, sending shares down 12 percent.

The New York Times Company reported a second-quarter loss on Thursday because of a write-down in the value of About.com and continuing declines in print and digital advertising revenue.

The New York Times Company reported that first-quarter net income dropped 57.6 percent, to $5.4 million, as print advertising remained depressed and About.com revenue fell.