The New York Times has reported its second consecutive loss as print and online advertising revenues declined by 14.1% and 6.8% respectively. CEO Mark Thompson said: "In digital, we saw very strong growth in mobile, video and virtual reality, branded content and programmatic advertising. Thompson, however, had warned in February that operating profit would be under pressure due to its spending on digital initiatives. We are continuing to invest aggressively across all of these areas with the goal of driving revenue for our shareholders." "We expect that situation to improve in the second half of the year; in fact, we are already seeing a marked turnaround in July."
The New York Times has reported its second consecutive loss as print and online advertising revenues declined by 14.1% and 6.8% respectively. CEO Mark Thompson said: "In digital, we saw very strong growth in mobile, video and virtual reality, branded content and programmatic advertising. We are continuing to invest aggressively across all of these areas with the goal of driving revenue for our shareholders." "We expect that situation to improve in the second half of the year; in fact, we are already seeing a marked turnaround in July."