The New York Times Company (NYT)
by Zacks Equity ResearchAugust 13, 2012 | Comments : 0 Recommended this article: (0)
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The top-line portrayed marginal growth of 0.6% to $515.2 million during the second quarter, and also came ahead of the Zacks Consensus Estimate of $509 million. The ongoing slump in the advertising market continues to weigh upon the company's results. To mitigate this, the company is diversifying its business and adding new revenue streams.
The company is also streamlining its cost structure, strengthening its balance sheet and restructuring its portfolio. The company is offloading assets that bear no direct relation with the core operations in order to re-focus on its core newspapers and pay more attention to its online activities.
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