攻击温相，纽约时报暴跌20%？

Why New York Times Shares Dropped

By Jeremy Bowman | More Articles
October 25, 2012 | Comments (0)

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of the New York Times (NYSE: NYT  ) were getting thrown in the recycling bin today, falling as much as 19%, after the company badly missed on top and bottom lines in its third quarter earnings report.

So what: Revenue fell 0.6% to $449 million, well short of estimates of $479 million. Earnings per share were not any better, with a $0.01 adjusted loss on expectations of an $0.08 profit. The company's move to tighten its pay wall continued to show results, as digital subscriptions increased by 11% from the second quarter to 592,000, but advertising revenue suffered badly in the quarter, falling by 8.9%. The vast majority of that drop came from the print side, while digital ad revenue declined 2.2%.

Now what: The publisher sees similar trends going into the fourth quarter, with ad revenue at Q3 levels, and circulation revenue up 5% to 10% from a year ago, but the latest drop in ad revenue has to be disheartening for investors. While the verdict is still out on the Times subscription-based business model, digital ad revenue figures to be a key piece in the puzzle. I'd stay away until sales growth is moving in the right direction and the company is putting up consistent profits.

Need to stay connected to the New York Times? Just add the company to your Watchlist here.

所有跟帖： 

• bs, 明明遇阻随大盘回落，nyt连自己总统都不放过，非要和温扯上关系~~~。 -eyewear- ♂ (0 bytes) () 10/28/2012 postreply 11:53:28

• NYT 季报missed big time。 -PAS- ♀ (0 bytes) () 10/28/2012 postreply 12:00:06

• binggo! -eyewear- ♂ (0 bytes) () 10/28/2012 postreply 12:04:45