NY Times Co. (NYSE: NYT) Q4 & FY 2022 Financials Exceed Expectations, Dividend Hiked 22%
By The New York Times Company (NYSE: NYT) announced today that its fourth-quarter and full-year 2022 financial results are available on its investor relations website. The company also hiked its dividend by 22% to $0.11 per share, or $0.44 annualized, for an annual yield of 1.1%.[0] Stockholders of record on April 5, 2023, will receive the dividend on April 20, 2023, with an ex-dividend date of April 4, 2023.[0]
The fourth-quarter and full-year 2022 financial results reported by The New York Times Company (NYSE: NYT) on Wednesday, November 2, 2018, exceeded expectations. The company reported 240,000 net digital-subscriber additions in the fourth quarter from the previous quarter and said it added more than one million for the entirety of 2022.[1] Digital-only subscription revenue increased 31% Y/Y to $269.2 million, while digital advertising revenue rose 0.6% to $111.9 million.[2]
The company also announced Q1 outlooks for total subscription revenues and digital-only subscription revenues. Total subscription revenues are expected to grow 6% – 9%, while digital-only subscription revenues are projected to increase 13% – 16%.[3] For the fourth quarter, earnings per share (EPS) was reported at a loss of $1.53, missing the consensus estimate of a loss of $1.47. Revenue, however, beat the consensus estimate of $3.[3]
The New York Times Company is a trusted source of quality, independent journalism whose mission is to seek the truth and help people understand the world.[4] With more than 9 million subscribers accounting for more than 10 million subscriptions across a diverse array of print and digital products, The Times has evolved from a local and regional news leader into a diversified media company with curious readers, listeners and viewers around the globe.[4] Stay up-to-date with the latest news from the company at[4]
0. “6 big dividend moves: New York Times hikes by 22%, MGM halts payout” Investing.com India, 9 Feb. 2023, https://in.investing.com/news/6-big-dividend-moves-new-york-times-hikes-by-22-mgm-halts-payout-3516353
1. “New York Times Adds 240,000 Digital Subscribers – WSJ” The Wall Street Journal, 8 Feb. 2023, https://www.wsj.com/articles/new-york-times-nyt-q4-earnings-report-2022-11675867011
2. “The (NY) Times, It Is A-Changin’; Amazon Spends Money To Make Money” AdExchanger, 9 Feb. 2023, https://www.adexchanger.com/ad-exchange-news/thursday-09022023/
3. “The New York Times Co. Tops Q4 EPS by 16c By Investing.com” Investing.com, 8 Feb. 2023, https://www.investing.com/news/the-new-york-times-co-tops-q4-eps-by-16c-432SI-2998185
4. “The New York Times Company Reports 2022 Fourth-Quarter and Full-Year Results” Portada-online.com, 8 Feb. 2023, https://www.portada-online.com/businesswire/the-new-york-times-company-reports-2022-fourth-quarter-and-full-year-results
