New York Times Company reported slightly increased revenue of $367 million and net income of just over $9 million for the third quarter, helped in part by a slowed decline in print advertising, a rise in digital subscribers and the absence of severance costs that dragged on profit a year ago.
The company said on Thursday that it had added 51,000 net digital subscribers in the quarter, the largest number it had added since the fourth quarter of 2012. Last summer, The Times passed one million digital subscribers; paid digital-only subscriptions now stand at 1,041,000.
The company reported adjusted earnings of 9 cents a share, beating analysts’ forecasts of 6 cents a share.
Digital advertising, an important component of the company’s plan to double digital revenue to $800 million by 2020, decreased 5 percent.
Mark Thompson, the company’s chief executive, said that it had been its “best advertising quarter of the year” despite that decline. He described the quarter as strong and said that the company remained bullish about its “digital advertising business and expect it to return to growth in the fourth quarter.”