What is the revenue and EPS growth rate for The New York Times year over year?

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- **Subscriber growth**: 460,000 net adds in Q3, total 12.3M subscribers.
- **Video expansion**: NFL footage in The Athletic, AI-driven cooking features, and Watch tab video engagement.
- **Revenue momentum**: Digital advertising +20%, licensing growth via gaming and shopping partnerships.
- **Capital return**: 50%+ free cash flow to shareholders, disciplined R&D in video/AI.

**【CEO Summary Section】**
- Added 460,000 net new digital subscribers, reaching 12.3 million total subscribers.
- Digital subscription revenue grew 14% driven by video expansion (e.g., NFL footage integration in The Athletic, AI-powered personalization in cooking and news apps).
- Video content now comprises a significant portion of the Times app, with new tabs and placements for video journalism.
- Family plan subscriptions grew to 2% of digital-only base, with premium pricing reflecting added value.
- Advertising revenue grew 20% in digital and 12% overall, driven by video and AI-targeted ad products.
- Licensing revenue increased due to partnerships leveraging Times IP in gaming and shopping.

**【CFO Financial Commentary】**
- Q3 consolidated revenue grew 9.5%, AOP expanded 26%, and free cash flow reached $393M year-to-date.
- Q4 guidance: Digital-only subscription revenue +13-16%, total subscription revenue +8-10%, digital advertising growth mid- to high-teens.
- Capital allocation: 50% of free cash flow returned to shareholders via buybacks and dividends.
- Cost control maintained with 6.2% AOP growth, aligning with 5-6% annual target.

**【Q&A Highlights】**
- Video strategy: NFL footage integration in The Athletic drove engagement and ad revenue; Watch tab expanded video content (podcasts, reporter videos) to 10+ million monthly users.
- Family plan: 2% of digital subscribers on premium family plan, with no immediate plans to restrict sharing.
- The Athletic: NFL footage integration boosted engagement and ad targeting; Q3 net adds driven by single-product subscriptions (e.g., cooking, games) and AI-powered step-up pricing.
- Licensing: Gaming partnerships (e.g., NYT Cooking, The Athletic) monetize Times IP in high-engagement spaces.
- Capital allocation: 50%+ of free cash flow returned to shareholders, with disciplined R&D investments in video/AI.

The New York Times Company (NYT) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

NYT

NYT fundamentals

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