The New York Times (NYSE:NYT) reported fourth-quarter results that surpassed Wall Street expectations, bolstered by a 25% surge in digital advertising and a milestone performance in its transition to a subscription-first model.
The New York-based publisher posted net income of $129.8 million, or 79 cents per share, for the final three months of 2025.
When adjusted for non-recurring items, earnings reached 89 cents per share, clearing the 88-cent consensus estimate.
Revenue rose 10.4% to $802.3 million, marking a robust end to a year where the company surpassed $2 billion in total digital revenues for the first time.
The company added 450,000 net new digital-only subscribers in the quarter, bringing its total base to 12.8 million as it marches toward its goal of 15 million by 2027.
Average revenue per user (ARPU) for digital-only subscriptions ticked up to $9.72, driven by price increases for tenured subscribers and a push to bundle news with lifestyle products like Games, Cooking, and The Athletic.
While subscription revenue grew 9%, the advertising segment stole the spotlight; digital ad revenue hit $147 million, benefiting from high engagement across its diverse product portfolio.