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New York Times beats profit estimate as digital subscribers soar

The New York Eras Co. reported a better-than-expected quarterly profit, as it signed up more advertisers and subscribers for its digital books, helping offset a slide in print sales.

The company added forth 154,000 paid only subscribers to various websites, including the New York Once in a whiles website, in the third quarter.

Digital advertising revenue rose 11 percent to $49.2 million, accounting for around 43 percent of its total advertising revenue.

The paper’s print advertising returns fell 20.1 percent to $64.4 million.

Net income attributable to the cast rose to $32.3 million in the quarter ended Sept. 24 from $406,000 a year earlier. On a per-share footing it earned 20 cents per share compared with break-even conclusive year.

Excluding items, earnings were 13 cents per allocation from continuing operations, beating analysts’ average estimate of 8 cents per slice, according to Thomson Reuters I/B/E/S.

Revenue rose 6.1 percent to $385.6 million. Analysts on usual had expected $389 million.

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