New York Times Adds 420,000 Subscribers as Q3 Digital Revenue Rises

The New York Times reported third-quarter revenue of $768.5 million, above the $766.9 million expected by analysts. Net income rose 19.2% to $97.4 million. Digital-only subscription revenue rose 14.6% to $421.3 million, while the publisher added approximately 420,000 digital-only subscribers, bringing its total subscriber base to 13.8 million. Digital advertising revenue rose 12% to $109.9 million. The company had previously forecast mid-to-high-teens digital advertising growth. The New York Times added 420,000 digital-only subscribers in the third quarter, bringing its total subscriber base to 13.8 million as revenue and adjusted earnings topped Wall Street expectations. The company reported third-quarter revenue of $768.5 million, up 9.7% from $700.8 million a year earlier. Net income rose 19.2% to $97.4 million, while diluted earnings per share came in at 60 cents. Adjusted earnings were 68 cents per share. The results topped analyst consensus estimates of $766.9 million and 65 cents a share, according to Yahoo Finance. Shares rose 4.1% to $69.93 in early trading. The third-quarter subscriber additions accelerated from 280,000 in the second quarter, when the Times ended June with 13.35 million total subscribers. Digital-only subscription revenue rose 14.6% to $421.3 million, compared with $367.4 million a year earlier. The company previously forecast growth of 12% to 15% for the third quarter, reflecting continued expansion of its digital subscriber base and higher subscription prices. Digital-only average revenue per user, which measures the amount the company earns from each digital subscriber over a 28-day billing cycle, reached $9.93, compared with $9.79 a year earlier. Advertising revenue totaled $142.6 million, up 7.8% from a year earlier. Digital advertising revenue rose 12% to $109.9 million, compared with $98.1 million during the third quarter of 2025. The company had projected digital advertising growth in the mid-to-high teens, following a 20.7% increase in the second quarter. Affiliate, licensing and other revenue increased 6.2% to $78.4 million, driven by higher licensing and Wirecutter affiliate referral revenue. Operating profit rose 16.4% to $121.9 million, while adjusted operating profit increased 13.9% to $149.6 million. Total operating costs climbed 8.5% to $646.6 million. Adjusted operating costs increased 8.7%, within the company’s previously forecast range of 8% to 9%. Looking ahead, the Times expects digital-only subscription revenue to grow 12% to 15% in the fourth quarter, while digital advertising revenue is projected to increase in the high-single to low-double digits.