New York Times (NYS: NYT) reported earnings on Oct. 25. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), New York Times missed estimates on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank significantly and GAAP earnings per share dropped significantly.
Margins contracted across the board.
New York Times booked revenue of $449.0 million. The five analysts polled by S&P Capital IQ wanted to see a top line of $479.1 million on the same basis. GAAP reported sales were 16% lower than the prior-year quarter's $537.2 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.01. The seven earnings estimates compiled by S&P Capital IQ anticipated $0.08 per share. GAAP EPS of $0.02 for Q3 were 80% lower than the prior-year quarter's $0.10 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 55.1%, 150 basis points worse than the prior-year quarter. Operating margin was 1.9%, 480 basis points worse than the prior-year quarter. Net margin was 0.5%, 240 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $577.1 million. On the bottom line, the average EPS estimate is $0.35.
Next year's average estimate for revenue is $2.06 billion. The average EPS estimate is $0.63.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 164 members out of 432 rating the stock outperform, and 268 members rating it underperform. Among 141 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 43 give New York Times a green thumbs-up, and 98 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on New York Times is hold, with an average price target of $8.71.
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The article The Gory Details on New York Times's Double Miss originally appeared on Fool.com.
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