NYSE:NYTMedia
New York Times (NYT) Stock Drops Hard Despite Digital Subscription Strength
New York Times stock just absorbed a shock. Shares closed down about 13% to US$65.48, capping a tough stretch that already had the stock falling over the past week, month and quarter. The emotional read is simple: investors saw the drop and treated this as a setback.
The earnings story is more complicated. Q2 revenue reached about US$762 million and net income was roughly US$93 million, supported by a clear push in digital subscriptions and advertising. The market is punishing the stock while...