New York Times beats estimates for quarterly revenue

[November 03, 2021]  (Reuters) - The New York Times Co reported better-than-expected quarterly revenue on Wednesday as it added more digital subscribers, while attracting advertisers to its website and apps.

It added 455,000 digital-only subscribers during the quarter.

Revenue in the third quarter rose 19.3% to $509.1 million, topping the average analyst estimate of $499.1 million, according to Refinitiv data.

Net income attributable to common stockholders rose to $54.7 million, or 32 cents per share, in the quarter from $33.6 million, or 20 cents per share, a year earlier.

(Reporting by Eva Mathews in Bengaluru; Editing by Bernard Orr and Anil D'Silva)

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