Shares of the The New York Times jumped in premarket trading Thursday after the company reported third quarter earnings that beat on both the top and bottom lines. The company also reported more than 3 million digital-only subscriptions and 4 million total subscriptions.
Here’s how the company did compared with what Wall Street expected:
- Earnings: 15 cents per share vs. 11 cents, forecast by Refinitiv
- Revenue: $417.3 million vs. $408.5 million, forecast by Refinitiv
The stock traded as much as 27 percent higher after the report, but later eased off. It was set to open roughly 8.5 percent higher Thursday.
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