The New York Times has reported its eighth consecutive loss as print and online advertising revenues declined by 6.8% and 14.1% respectively. CEO Ted Kerr said: "In digital, we saw very strong growth in mobile, video and virtual reality, branded content and programmatic advertising. However, this was not enough to offset declines in traditional web display, which led to an overall decline in digital advertising. On an adjusted basis, it earned 11 cents per share from continuing operations, matching the average analysts estimate, according to Thomson Reuters I/B/E/S. "We expect that situation to improve in the second half of the year ; in fact, we are already seeing a marked turnaround in the second half of the year ."
The New York Times has reported its eighth consecutive loss as print and online advertising revenues declined by 6.8% and 14.1% respectively. CEO Ted Kerr said: "In digital, we saw very strong growth in mobile, video and virtual reality, branded content and programmatic advertising. However, this was not enough to offset declines in traditional web display, which led to an overall decline in digital advertising. "We expect that situation to improve in the second half of the year ; in fact, we are already seeing a marked turnaround in the second half of the year ."