NYT Turns Profit, New England Group Down In Q1
The New York Times Co.'s New England Media Group, which includes the Worcester Telegram & Gazette and the Boston Globe, brought in $101.5 million in the first quarter, a 2.8 percent decrease from the same period a year ago.
Advertising revenue for the group was down 9.8 percent to $50.3 million while circulation revenue increased by 8.3 percent to $41.3 million.
Overall, the Times Co. reported a $14.2 million profit for the quarter compared to a $74 million loss a year earlier. Revenue was $588 million, a 3.2 percent decrease.
The company's operating profit was $52.7 million compared to a loss of $62 million.
The company said "significant positive trending" in print and online advertising revenue along with continued cost cutting helped bring the quarter's results into the black.
WBJ Web Partners
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