We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
The New York Times' Q4 Earnings Beat Highlights Digital Momentum
Read MoreHide Full Article
Key Takeaways
The New York Times Company topped Q4 estimates with EPS of $0.89 and revenues up 10.4% to $802.3M.
NYT added about 450K digital-only subs, while digital ARPU rose to $9.72 on pricing shifts and plan upgrades.
NYT saw digital ads jump 24.9% and guided Q1 for 14-17% digital-only sub revenue growth.
The New York Times Company (NYT - Free Report) continued its strong performance in the fourth quarter of 2025, with results surpassing expectations for both the top and bottom lines. Adjusted earnings came in at 89 cents a share, topping the Zacks Consensus Estimate of 88 cents and improving from 80 cents in the prior-year quarter. Revenues rose 10.4% year over year to $802.3 million, outpacing the Zacks Consensus Estimate of $790 million.
The quarter’s strength reflected healthy subscription momentum, robust digital advertising growth, contributions from diversified revenue streams and solid free cash flow generation. NYT added approximately 450,000 net digital-only subscribers in the quarter under review compared with the end of the preceding quarter.
The New York Times Company consistently grew its digital-only average revenue per user (ARPU), which increased to an impressive $9.72 in the fourth quarter from $9.65 in the year-ago period. This rise in ARPU can be attributed to subscribers transitioning from promotional pricing to higher rate plans and price hikes for certain tenured subscribers.
NYT’s Subscription Revenues Show Strong Y/Y Growth
Total subscription revenues climbed 9.4% year over year to $510.5 million in the quarter under review. Subscription revenues from digital-only products jumped 13.9% to $381.5 million. This reflects an increase in bundle and multi-product revenues and a rise in other single-product subscription revenues, partly offset by a decline in news-only subscription revenues. However, print subscription revenues dropped 2% to $129 million, reflecting continued softness in home delivery and single-copy sales.
The company ended the quarter with 12.78 million subscribers across its print and digital products, including 12.21 million digital-only subscribers. Of the 12.21 million subscribers, roughly 6.48 million were bundle and multiproduct subscribers.
The New York Times Company remains optimistic about sustaining its growth trajectory into the first quarter of 2026. Management guided for digital-only subscription revenues to rise 14-17%, reflecting continued momentum in multi-product bundles and subscriber engagement. Total subscription revenues are expected to increase 9-11%.
The New York Times Company Price, Consensus and EPS Surprise
A Look at The New York Times Company’s Advertising Revenues
Total advertising revenues improved 16.1% year over year to $191.7 million. Digital advertising revenues surged 24.9% to $147.2 million, driven by strong marketer demand and new advertising supply. Print advertising declined 5.8% to $44.4 million.
For the first quarter, the company anticipates total advertising revenues to increase in the low double digits, supported by an expanding digital ecosystem. Digital advertising revenues are projected to grow in the high-teens-to-low-twenties range.
Other Key Highlights of NYT’s Results
Affiliate, licensing and other revenues increased 5.5% to $100.2 million, fueled by stronger licensing revenues. On the cost side, adjusted operating costs grew 9.7% to $610 million, mainly reflecting higher journalism costs, marketing spend and product development investments. Even with rising costs, the company achieved 12.8% growth in adjusted operating profit (AOP) to $192.3 million, while the AOP margin expanded 50 basis points to 24%, underscoring disciplined cost management and operational leverage.
Affiliate, licensing and other revenues are forecasted to increase at a high single-digit rate in the first quarter. On the cost front, management expects adjusted operating costs to jump 8% to 9%.
Sneak Peek Into NYT’s Financial Health
The New York Times Company ended the quarter with cash and marketable securities of $1.2 billion, reflecting an increase of $256 million from $911.9 million as of Dec. 31, 2024. As of Dec. 31, 2025, the company had no outstanding borrowings under its $400 million unsecured revolving credit facility and carried no other outstanding debt.
The New York Times Company incurred capital expenditures of about $7 million in the quarter. Management envisions capital expenditures in the band of $35-$45 million for 2026.
Free cash flow for 2025 stood at $550.5 million, up sharply from $381.3 million in 2024. During the quarter, the company repurchased approximately 883,602 shares for $55.4 million, with $334.4 million remaining under its share repurchase authorization.
Bottom Line
The New York Times Company delivered another solid quarter, outperforming expectations and demonstrating the strength of its diversified revenue model. Continued digital subscription gains, robust advertising growth and healthy cash generation reinforce the success of its strategy to expand engagement across a growing portfolio. With disciplined cost control and a debt-free balance sheet, the company remains well-positioned for sustained growth and shareholder value creation.
We note that shares of this Zacks Rank #2 (Buy) company have advanced 9.1% in the past six months compared with the industry’s rise of 10.8%.
The Zacks Consensus Estimate for DocuSign’s current financial-year sales and EPS implies growth of 7.9% and 6.8%, respectively, from the year-ago period’s actuals.
Calix, Inc. (CALX - Free Report) , which delivers the industry’s only agentic AI cloud and appliance-based platform, carries a Zacks Rank #2. CALX has a trailing four-quarter earnings surprise of 35.8%, on average.
The Zacks Consensus Estimate for Calix’s current financial-year sales and EPS suggests growth of 15.6% and 41.5%, respectively, from the year-ago period’s actuals.
Autodesk, Inc. (ADSK - Free Report) , which provides 3D design, engineering, and entertainment technology solutions worldwide, carries a Zacks Rank #2. ADSK has a trailing four-quarter earnings surprise of 7.3%, on average.
The Zacks Consensus Estimate for Autodesk’s current financial-year revenues and EPS calls for growth of 16.8% and 20.5%, respectively, from the year-ago period’s reported numbers.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
The New York Times' Q4 Earnings Beat Highlights Digital Momentum
Key Takeaways
The New York Times Company (NYT - Free Report) continued its strong performance in the fourth quarter of 2025, with results surpassing expectations for both the top and bottom lines. Adjusted earnings came in at 89 cents a share, topping the Zacks Consensus Estimate of 88 cents and improving from 80 cents in the prior-year quarter. Revenues rose 10.4% year over year to $802.3 million, outpacing the Zacks Consensus Estimate of $790 million.
The quarter’s strength reflected healthy subscription momentum, robust digital advertising growth, contributions from diversified revenue streams and solid free cash flow generation. NYT added approximately 450,000 net digital-only subscribers in the quarter under review compared with the end of the preceding quarter.
The New York Times Company consistently grew its digital-only average revenue per user (ARPU), which increased to an impressive $9.72 in the fourth quarter from $9.65 in the year-ago period. This rise in ARPU can be attributed to subscribers transitioning from promotional pricing to higher rate plans and price hikes for certain tenured subscribers.
NYT’s Subscription Revenues Show Strong Y/Y Growth
Total subscription revenues climbed 9.4% year over year to $510.5 million in the quarter under review. Subscription revenues from digital-only products jumped 13.9% to $381.5 million. This reflects an increase in bundle and multi-product revenues and a rise in other single-product subscription revenues, partly offset by a decline in news-only subscription revenues. However, print subscription revenues dropped 2% to $129 million, reflecting continued softness in home delivery and single-copy sales.
The company ended the quarter with 12.78 million subscribers across its print and digital products, including 12.21 million digital-only subscribers. Of the 12.21 million subscribers, roughly 6.48 million were bundle and multiproduct subscribers.
The New York Times Company remains optimistic about sustaining its growth trajectory into the first quarter of 2026. Management guided for digital-only subscription revenues to rise 14-17%, reflecting continued momentum in multi-product bundles and subscriber engagement. Total subscription revenues are expected to increase 9-11%.
The New York Times Company Price, Consensus and EPS Surprise
The New York Times Company price-consensus-eps-surprise-chart | The New York Times Company Quote
A Look at The New York Times Company’s Advertising Revenues
Total advertising revenues improved 16.1% year over year to $191.7 million. Digital advertising revenues surged 24.9% to $147.2 million, driven by strong marketer demand and new advertising supply. Print advertising declined 5.8% to $44.4 million.
For the first quarter, the company anticipates total advertising revenues to increase in the low double digits, supported by an expanding digital ecosystem. Digital advertising revenues are projected to grow in the high-teens-to-low-twenties range.
Other Key Highlights of NYT’s Results
Affiliate, licensing and other revenues increased 5.5% to $100.2 million, fueled by stronger licensing revenues. On the cost side, adjusted operating costs grew 9.7% to $610 million, mainly reflecting higher journalism costs, marketing spend and product development investments. Even with rising costs, the company achieved 12.8% growth in adjusted operating profit (AOP) to $192.3 million, while the AOP margin expanded 50 basis points to 24%, underscoring disciplined cost management and operational leverage.
Affiliate, licensing and other revenues are forecasted to increase at a high single-digit rate in the first quarter. On the cost front, management expects adjusted operating costs to jump 8% to 9%.
Sneak Peek Into NYT’s Financial Health
The New York Times Company ended the quarter with cash and marketable securities of $1.2 billion, reflecting an increase of $256 million from $911.9 million as of Dec. 31, 2024. As of Dec. 31, 2025, the company had no outstanding borrowings under its $400 million unsecured revolving credit facility and carried no other outstanding debt.
The New York Times Company incurred capital expenditures of about $7 million in the quarter. Management envisions capital expenditures in the band of $35-$45 million for 2026.
Free cash flow for 2025 stood at $550.5 million, up sharply from $381.3 million in 2024. During the quarter, the company repurchased approximately 883,602 shares for $55.4 million, with $334.4 million remaining under its share repurchase authorization.
Bottom Line
The New York Times Company delivered another solid quarter, outperforming expectations and demonstrating the strength of its diversified revenue model. Continued digital subscription gains, robust advertising growth and healthy cash generation reinforce the success of its strategy to expand engagement across a growing portfolio. With disciplined cost control and a debt-free balance sheet, the company remains well-positioned for sustained growth and shareholder value creation.
We note that shares of this Zacks Rank #2 (Buy) company have advanced 9.1% in the past six months compared with the industry’s rise of 10.8%.
Other Stocks Worth Watching
DocuSign, Inc. (DOCU - Free Report) , the leader in AI-powered contract management, currently carries a Zacks Rank #2. DOCU has a trailing four-quarter average earnings surprise of 8.2%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for DocuSign’s current financial-year sales and EPS implies growth of 7.9% and 6.8%, respectively, from the year-ago period’s actuals.
Calix, Inc. (CALX - Free Report) , which delivers the industry’s only agentic AI cloud and appliance-based platform, carries a Zacks Rank #2. CALX has a trailing four-quarter earnings surprise of 35.8%, on average.
The Zacks Consensus Estimate for Calix’s current financial-year sales and EPS suggests growth of 15.6% and 41.5%, respectively, from the year-ago period’s actuals.
Autodesk, Inc. (ADSK - Free Report) , which provides 3D design, engineering, and entertainment technology solutions worldwide, carries a Zacks Rank #2. ADSK has a trailing four-quarter earnings surprise of 7.3%, on average.
The Zacks Consensus Estimate for Autodesk’s current financial-year revenues and EPS calls for growth of 16.8% and 20.5%, respectively, from the year-ago period’s reported numbers.