Q3 2025 New York Times Co Earnings Call Transcript

Nov 5, 2025 / 01:00 PM GMT

Release Date Price: $57.61 (-0.24%)

Transcript 10-Q8-K

Key Points

Positve

New York Times Co (NYT) added 460,000 net new digital subscribers, bringing the total to 12.3 million, indicating strong subscriber growth.
Digital subscription revenue increased by 14%, driven by strong audience engagement.
Digital advertising revenue grew over 20%, with total advertising revenue increasing nearly 12%, reflecting a successful digital ad strategy.
The company generated approximately $383 million of free cash flow in the first nine months of the year, showcasing a capital-efficient model.
New York Times Co (NYT) maintained disciplined expense growth while investing in journalism and product experiences, supporting long-term advantages.

Negative

Adjusted operating costs increased by 6.2%, slightly above the 5 to 6% guidance range, indicating higher-than-expected expenses.
There is a potential risk of variability in affiliate licensing and other revenues due to multiple contributing factors.
The company faces challenges from big tech companies leading to less traffic for publishers, impacting the media ecosystem.
The push into video formats and family plan subscriptions may require significant incremental investments.
Despite strong performance, the company must navigate a dynamic market environment with potential fluctuations in revenue and expenses.

Refinitiv StreetEvents Event Transcript
P R E L I M I N A R Y V E R S I O N

NYT.N - New York Times Co
Q3 2025 New York Times Co Earnings Call
Nov 05, 2025 / 01:00PM GMT

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Conference Call Participants
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Presentation
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THIS TRANSCRIPT IS THE INITIAL PRELIMINARY VERSION WHICH LEVERAGES MACHINE LEARNING TECHNOLOGY. AS SUCH, PLEASE BE AWARE THERE MAY BE INACCURACIES IN THE TEXT DISPLAYED. FUTURE EDITED VERSIONS WILL BE REVIEWED FOR GREATER ACCURACY.

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Good morning and welcome to the New York Times Company's 3rd quarter 2025 earnings conference call. All participants will be in

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