New York Times Co (NYT) 10K Annual Reports & 10Q SEC Filings

•The Company added approximately 300,000 net digital-only subscribers compared with the end of the third quarter of 2023, fueled by bundle and multi-product subscriber additions

•Total digital-only average revenue per user (“ARPU”) grew 3.5 percent year-over-year to $9.24 primarily as a result subscribers graduating from promotional to higher prices and price increases on tenured non-bundled subscribers

•Higher digital subscribers and ARPU drove year-over-year growth in subscription revenues from digital products of 7.2 percent

•Digital advertising revenues decreased 3.7 percent year-over-year largely as a result of the five fewer days in the fourth quarter of 2023 compared to 2022 as well as declines in revenue from our podcasts and creative services

•Other revenue increased 10.0 percent year-over-year as a result of continued strength in licensing and Wirecutter affiliate referral revenues

•Operating costs decreased 4.8 percent year-over-year and adjusted operating costs (defined below) decreased 0.7 percent, largely as a result of lower cost of revenue, partially offset by higher sales and marketing and product development costs

•Operating profit of $129.0 million, a 38.7 percent increase year-over-year, with adjusted operating profit (defined below) of $154.0 million, an 8.5 percent increase year-over-year primarily as a result of higher digital subscription and other revenues as well as lower adjusted operating costs, partially offset by lower advertising revenues

•Operating profit margin for the quarter was 19.1 percent and adjusted operating profit margin was 22.8 percent, a year-over-year increase of approximately 160 basis points

•Diluted earnings per share of $.66, a $.23 increase year-over-year, with adjusted diluted earnings per share (defined below) of $.70, a $.11 increase year-over-year

•Net cash from operating activities for full year 2023 was $360.6 million and Free cash flow for full year 2023 was $337.9 million compared with $113.7 million in 2022

Meredith Kopit Levien, president and chief executive officer, The New York Times Company, said, “2023 was a strong year for The Times that showcased the power of our strategy to be the essential subscription for every curious person seeking to understand and engage with the world. Our market leading news and lifestyle products commanded large and deeply engaged audiences, and our multi-revenue stream model contributed to improving profitability. We realized strong annual growth in earnings per share, adjusted operating profit, and free cash flow, which each hit their highest point since our digital transformation began more than a decade ago.”

The following information was filed by New York Times Co (NYT) on Wednesday, February 7, 2024 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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https://last10k.com/sec-filings/report/71691/000007169124000030/nyt-20231231.htm

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New York Times Co's Definitive Proxy Statement (Form DEF 14A) filed after their 2024 10-K Annual Report includes:

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

New York Times Co provided additional information to their SEC Filing as exhibits

Exhibit 4.1: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 21: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Exhibit 97.1: Ex-97.1

Ticker: NYT
CIK: 71691
Form Type: 10-K Annual Report
Accession Number: 0000071691-24-000030
Submitted to the SEC: Tue Feb 20 2024 5:19:41 PM EST
Accepted by the SEC: Tue Feb 20 2024
Period: Sunday, December 31, 2023
Industry: Newspapers Publishing Or Publishing And Printing