The New York Times (NYT) Co. released its earnings report for 4Q 2011, which did not reflect the company's recent sale of its Regional Media Group (worth $150 million plus tax benefits). Operating profit fell from $111.6 million in 4Q 2010 to $106.6 million. Revenues for this past quarter fell to $643 million, a 2.8% drop.
NYT Co.'s earnings were $0.39 per share -- slightly lower than the $0.41 analysts had predicted for the quarter. Revenue advertising fell for both print (7.8%) and digital (4.9%). Digital revenues at the company's New Media Group grew by 10% to $233.5 million, except for a drop in cost-per-click and display advertising for About.com.
However, NYT Co. saw a 20% increase in digital subscribers even with the expansion of paywalls across its properties: The year-end tally of total paid subscribers to digital subscription packages, e-readers, and replica editions of The Times and the International Herald Tribune stood at approximately 390,000; The Boston Globe equivalents had 16,000 paid subscribers.