New York Times Company (the) Stock Earnings Reports

The New York Times reported a strong Q1 2026 with consolidated revenue up 12% year-over-year, driven by 16% growth in digital-only subscription revenue and a 32% increase in digital advertising. The company added 310,000 net new digital subscribers, bringing total subscribers to over 13 million and moving toward its 15 million milestone. Adjusted operating profit (AOP) rose ~27% to about $118 million, expanding AOP margin by 200 basis points to 16.6%, and adjusted diluted EPS increased to $0.61. Management emphasized disciplined cost control while making targeted investments—notably scaling video journalism (reporter video, shows, live coverage) and increasing ad inventory incrementally across the portfolio. Q2 guidance: digital-only subscription revenue growth of 14%–17%; total subscription revenue growth of 10%–12%; digital advertising expected to grow in the high teens; adjusted operating costs guided to increase 8%–9%. The company highlighted strong free cash flow ($542M over the last 12 months) and a one-time cash tax benefit to operating cash flow in 2026 of roughly $60M. On AI/platform partnerships, the company remains open to deals that ensure sustainable, fair value exchange and control over content usage. Management reiterated confidence in multi-revenue stream model, long-term subscriber growth, margin expansion, and progress toward midterm targets for subscribers, AOP growth and capital returns.