New York Times stock rises in premarket trading after earnings beat analyst estimate

Steve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.

The New York Times Co.’s stock NYT, +0.43% was up 3.8% in premarket trading Wednesday after the media company’s third-quarter profit and revenue beat analyst estimates. The media company’s third-quarter net income rose by 46% to $53.61 million, or 32 cents a share, from $36.62 million, or 22 cents a share, in the year-ago quarter.

Adjusted third-quarter profit of 37 cents a share beat the FactSet consensus estimate of 29 cents a share. Revenue rose 9% to $598.4 million, ahead of the analyst estimate of $589.5 million. The publishing company ended the quarter with 10.08 million subscribers, including 9.4 million digital-only subscribers. The company added about 210,000 net digital-only subscribers from the previous quarter.

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