From Nasdaq: 2024-08-05 09:28:00

The New York Times Company is set to release its second-quarter 2024 earnings, with analysts expecting revenues to increase by 5.4%. The company has a strong track record of surpassing earnings estimates, driven by subscription growth and strategic initiatives. Advertising revenue and cost management will also be key factors to watch.

The New York Times’ success in converting readers into paying subscribers has led to a forecasted 6-8% increase in total subscription revenues for the quarter. With a focus on digital content and effective monetization strategies, the company aims to reach 10.1 million digital-only subscribers by the end of the quarter.

While digital advertising revenues are expected to grow by 7.9%, concerns linger over softness in print advertising and potential increases in operating costs. The company aims to reduce its dependence on traditional advertising and continue innovating in digital content.

Although The New York Times Company has a Zacks Rank #3, its Earnings ESP is at 0.00%, reducing the likelihood of an earnings beat. Investors may want to consider other stocks like DigitalOcean Holdings and Fortinet, which have a favorable combination of factors for potential earnings beats. Meta Platforms is also expected to show top-line growth in its upcoming earnings report.



Read more at Nasdaq: New York Times (NYT) Lined Up for Q2 Earnings: What to Expect?