NEWSMAX: 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 newspaper company said that revenue was up almost 1 percent to $449 million. Still, the result missed the analysts’ consensus estimate of $479.23 million, according to Thomson Reuters I/B/E/S.
Adjusting for severance costs and other special items, the company reported a quarterly loss of 1 cent per share, well below expectations of earnings of 8 cents per share… (more)
