SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Pastimes : Clown-Free Zone... sorry, no clowns allowed
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: MythMan who wrote (76620)3/7/2001 1:30:20 PM
From: Ilaine  Read Replies (1) of 436258
 
>>NEW YORK TIMES WARNS ON AD REVENUES
Economy Continues To Impact Advertising

by Seth Sutel, AP Business Writer

(AP) The New York Times Co. warned investors Monday
that its first-quarter earnings would fall w ell below analysts'
expectations as an economic slowdown exerts a drag on
advertising revenues.

But the company said it still expected to meet its target of 10%
to 15% growth in full-year earnings per share, thanks to tighter controls on
costs and added revenues from circulation because of two recently
announced price increases.

The company said it now expects earnings per share of 35 cents to 38 cents
in the first quarter, compared to 47 cents per share in the same period a year
ago. Analysts surveyed by First Call/Thomson Financial had expected 45
cents per share.

Investors responded by sending the company's shares down $2.71, or 6%, to
$42.79 in afternoon trading on the New York Stock Exchange.

The Times Co. said it expected advertising revenues for its newspapers to rise
1% to 3% for the entire year, with much of the growth coming in the second
half of the year.

However, the company said it expected additional revenues of $30 million to
$32 million in the year from two recent price increases, one for home delivery
of The New York Times and another for the newsstand price of Sunday
editions. The company also increased home delivery prices for The Boston
Globe late last year.

Like other newspaper publishers, the Times Co. is facing difficult comparisons
for advertising revenues in the first half of this year versus the same period a
year ago, when Internet companies were still spending heavily on advertising
as the stock market and the economy boomed.

Advertising revenues have already been slowing in recent months, and the
trend is expected to continue. The New York Times said its advertising
revenues grew 15% and 14% in the first two quarters of 2000 respectively,
but only 6% and 2% in the third and fourth quarters.

The company also said it expected lower growth in costs this year because of
decreasing newsprint consumption, lower expenses at its online division, and
other cost-cutting measures.<<

editorandpublisher.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News