Without a Shrinking About.com, NYT’s 1Q10 Financials Would Show an $8 Million Loss

The New York Times announced its first quarter 2010 results on Thursday. As is the case with most companies when they would rather not talk about the bottom line, the Times instead concentrated on its “operating profit.” A detailed look at the release reveals a group of contracting, money-losing journalistic endeavors propped up by an also-shrinking Internet enterprise. Here are the first few paragraphs of the company's release : The New York Times Company (NYSE: NYT) announced today 2011 first-quarter diluted earnings per share of $.04 per share compared with $.08 in the same period of 2010. Excluding severance and the special items discussed below, diluted earnings per share were $.02 per share in the first quarter of 2011 compared with $.11 in the first quarter of 2010.

Posted by on April 26, 2011. Filed under News, Politics. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.