New York Times beats 2Q profit forecasts

NEW YORK (AP) — The New York Times Co. (NYT) on Thursday reported second-quarter profit of $16.4 million.

The New York-based company said it had net income of 10 cents per share. Earnings, adjusted for non-recurring costs, were 13 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.

The newspaper publisher posted revenue of $382.9 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $383.5 million.

New York Times shares have declined slightly since the beginning of the year. The stock has risen 3 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap ) using data from Zacks Investment Research. Access a Zacks stock report on NYT at http://www.zacks.com/ap/NYT

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Keywords: New York Times Co., Earnings Report

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