New York Times Q2 diluted EPS $.13
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Total Q2 revenues decreased 1.5 percent.
Adjusted operating profit grew to $64.4 million in the second quarter of 2015 from $55.7 million in the second quarter of 2014, as digital revenue growth combined with cost reductions more than offset a decline in print revenues.
Operating profit was $38.1 million in the second quarter of 2015 compared with $16.5 million in the same period of 2014.
Total revenues for the second quarter of 2015 decreased 1.5 percent to $382.9 million from $388.7 million. Circulation and other revenues increased 0.9 percent and 4.5 percent, respectively, while advertising revenues declined 5.5 percent.
Circulation revenues rose as revenues from the company’s digital subscription initiatives and January’s increase in home-delivery prices for The New York Times more than offset a decline in print copies sold. Circulation revenue from the company’s digital-only subscription products was $47.5 million in the second quarter, an increase of 13.8 percent from the second quarter of 2014.
Paid subscribers to the company’s digital-only subscription products totaled approximately 990,000 as of the end of the second quarter of 2015, an increase of 19 percent compared to the end of the second quarter of 2014.
Second-quarter print advertising revenue decreased 12.8 percent while digital advertising revenue increased 14.2 percent. Digital advertising revenue was $48.3 million, or 32.5 percent of total company advertising revenues, compared with $42.3 million, or 26.9 percent, in the 2014 second quarter.
Other revenues rose 4.5 percent in the second quarter primarily due to increases in revenues from the company’s Crossword product and rental income. ■