Second quarter none too pretty for The New York Times Co.

By Matthew Schwartz in briefsNews on July 23, 2008

The New York Times Co. said Tuesday that total revenue declined 6% in the second quarter, to $741.9 million from $788.9 million in the same period last year. Ad revenue fell 10.6%, mainly due to lower print advertising. Quarterly net income plunged 82%, to $21.1 million from $118.4 in 2007. The saving grace?  The Web. Total Internet revenue for the Times Co. grew nearly 13% in the second quarter, to $91.3 million from $80.9 million, while Web ad revenue rose 18%, to $80.5 million from $68 million.

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Matthew Schwartz is Senior Editor of ScribeMedia.org and host of the WebTV series, From Print to Digital.

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