The company had strong growth in digital subscriptions, it said on Thursday, but digital advertising revenue, which has been a bright spot in the past, declined.
In its earnings release, the company said that it had added 51,000 net digital-only subscriptions in the quarter for its news products and 16,000 net crossword product subscriptions. The Times now has about 1.2 million digital-only subscriptions for its news products and 1.4 million total digital-only subscriptions.
The company reported a net loss of about $500,000 for the quarter, compared with net income of $16 million in the second quarter of 2015. The company took a roughly $12 million charge, largely in severance costs, in connection to the Paris closings. Total revenue fell 3 percent, to $373 million, from $383 million in the same quarter a year earlier.
The Times continued to struggle with declining advertising revenue, which fell about 12 percent, to $131 million. Print advertising revenue slid 14 percent in the quarter, and digital advertising revenue dropped 7 percent, to $45 million. Digital advertising revenue now represents more than a third of the company’s total ad revenue.
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