The New York Times Company said on Tuesday that its annual operating profit declined in 2014 because of investments in digital journalism and severance costs from a round of job reductions. Revenue was flat as growth in digital advertising and circulation offset declines in its print business.
Last year, the company posted an operating profit of $92 million, down from $156 million in 2013. During the fourth quarter of 2014, operating profit was $62 million, compared with $69 million during the final three months of 2013.
 |
| Mark Thompson |
Mark Thompson, the company’s chief executive, highlighted digital advertising numbers, specifically noting growth in mobile and video ad sales, as well as native advertising, which are ads that resemble news articles. Digital advertising revenue increased 19 percent during last three months of 2014, compared with the same quarter a year earlier. For all of 2014, digital advertising revenue rose to $182 million, almost 12 percent higher than the previous year.
Those gains counterbalanced continued declines in print advertising. The Times Company’s total advertising revenue declined less than 1 percent for the year compared with 2013, a figure that Mr. Thompson noted was the most encouraging year-over-year advertising trend for the company since 2005.
Read More Now
No comments:
Post a Comment