From Nasdaq:

New York Times is set to report its Q4 2023 results. The company expects digital-only subscription revenue to rise by 6-9% YoY, with total subscription revenue up 2-5%. Total advertising revenues are expected to range from a decrease of low single digits to an increase of mid single digits. Despite challenging conditions in the media landscape, the company is optimistic about its future growth.

NYT stock has experienced considerable volatility over the past few years. In 2021 and 2022, it underperformed the S&P 500, but in 2023, it saw a significant 51% return. However, the company expects little movement in stock price following its Q4 earnings announcement.

The company is further expected to report Q4 2023 revenues around $680 million, in line with consensus estimates. This follows strong growth in subscription and advertising revenue in Q3 2023. The New York Times surpassed 10 million subscribers across its print and digital products, and remains on track to achieve its target of at least 15 million total subscribers by the end of 2027.

For Q4 2023, NYT’s earnings per share is likely to match consensus estimates at 59 cents. This follows Q3 2023 earnings of 32 cents per share, representing a 45% YoY increase.

Based on Trefis analysis, NYT’s valuation is estimated at around $46 per share, nearly matching the current market price. This valuation is determined by the company’s expected EPS of around $1.52 and a P/E multiple of 30.5x in fiscal 2023.

Trefis estimates that the New York Times’ revenues in the full year 2023 will grow by 5% YoY to $2.4 billion. The company appears to be positioned for continued growth despite the challenges facing the media industry.



Read more: Up 47% Since Beginning of 2023, How Will NY Times’ Stock Trend After Q4 Earnings?