New York City Police officers stand outside the office of the The New York Times, October 25, 2018 in New York City. Security is being ramped up in New York City after explosive devices were sent to top Democratic politicians and to CNN headquarters. (Photo by Drew Angerer/Getty Images)
The New York Times announced its Q4 earnings on Thursday, and shareholders learned that advertising revenue is still down, but subscription revenue is up.
The company reported that advertising revenue continued to decline and is down 10.7% compared to the fourth quarter of 2018. However, the Times touted that news product subscription revenue continued to rise: Digital-only subscription revenue is up 13.7% from the fourth quarter of 2018. Ultimately, the Times reported that it added over one million digital-only subscribers throughout 2019, setting a record for its largest increase ever. Subscription revenue was up 4.5% in the fourth quarter as a result.
Diluted earnings per share for the quarter are at $0.41, which is up 24.2% from the fourth quarter last year. In 2018, fourth-quarter diluted earnings per share were $0.33. Analysts were predicting earnings per share to sit around $0.29.
In a statement Thursday morning, Mark Thompson, president and chief executive officer of the New York Times Company, said, “2019 was a record setting year for The New York Times’s digital subscription business, the best since the Company launched digital subscriptions almost nine years ago.”
He attributed that to “the extraordinary work of Times journalists around the world and also to the radically different way that we’re running digital operations at the company, with cross-disciplinary teams who enjoy significant autonomy and access to the machine learning, engineering and testing capabilities they need to move our business forward.”
9 Times New York Times Editorial Made Everyone Freak Out
Bari Weiss: We're All Fascists Now
The New York Times opinion editor set the Internet ablaze after going after college students who she said were trying to shut down free speech. Critics pointed to Weiss mistakenly linking two fake ANTIFA Twitter accounts
MSNBC
David Brooks: 'Girl I Want Your Body'
New York Times Op-Ed columnist David Brooks offered his spin on the MeToo movement in November. But his attempt to speak the language of sex and passion led him to write some lines like "girl I want your body" and "sex is a gold nugget" and the Internet went nuts.
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Bret Stephens' "A Defense, of Sorts, for Harvey Weinstein"
The October, 2017 piece was actually titled "Weinstein and Our Culture of Enablers," but Stephens couldn't resist throwing in the trollish alternative headline see above into a tweeted description of the article -- which promptly precipitated an Internet meltdown
YouTube
David Brooks Urges "Respect to Gun Owners" After Parkland, Florida Massacre
David Brooks set passions aflame after urging "respect" for gun owners after 17 children were killed at a school shooting in Parkland, Florida. "So if you want to stop school shootings it's not enough just to vent and march. It's necessary to let people from Red America lead the way, and to show respect to gun owners at all points," he wrote.
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Quinn "Been Friends with Various Neo-Nazis" Norton
The New York Times got more than they bargained for when they hired tech writer Quinn Norton. Almost immediately after the news was announced old tweets began to emerge including where Norton said she had "been friends with various neo-nazis" and used the N word. The Times cut her loose just hours after she was hired.
YouTube
Bari Weiss Attacks Aziz Ansari Accuser: 'I'll Get Crushed for This'
Weiss risked more wrath on the set of "Morning Joe" in January after blasting a woman who accused comedian Aziz Ansari of sexual misconduct. "It's called bad sex," she told Joe and Mika. "I'll get crushed for saying this."
TheWrap
Bari Weiss Quotes Hamilton: 'Immigrants: We Get the Job Done"
Anti-Weiss Internet mobs were set ablaze after she tweeted out "Immigrants: we get the job done," in response to Olympian Mirai Nagasu's triple axel. Nagasu was born in California to immigrant parents and Twitter furiously dragged her for not paying sufficient deference to the decision.
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James Bennet Diversifies the Times Opinion Pages
Editorial Page Editor James Bennet has said his mission is to broaden editorial diversity on the Times newsroom. The initiative has often been rocky and the paper has been beset by online criticism of hiring choices, and targeted leaks by Times employees unhappy with his changes.
YouTube
David Brooks Sandwich-Shames Less Educated Friend
Perhaps most egregious of all in the mind of Internet warriors was Brooks' confession in a July, 2017 column that he once took a friend "with only a high school degree" into a gourmet sandwich shop but decided to pull a quick switch for Mexican food after, so he said, she appeared overwhelmed by words like Soppressata and Capicollo.
Creative Commons
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Most of the recent fire and fury comes from the paper’s editorial pages
Bari Weiss: We're All Fascists Now
The New York Times opinion editor set the Internet ablaze after going after college students who she said were trying to shut down free speech. Critics pointed to Weiss mistakenly linking two fake ANTIFA Twitter accounts
MSNBC
Getty
