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The New York Times Company (NYSE: NYT) added 280,000 net new digital subscribers in the second quarter, lifting its total base to 13.4 million, as adjusted operating profit rose 16% to approximately $155 million and adjusted diluted earnings per share climbed 19% year over year to $0.69.
Subscription revenue and subscriber economics Digital-only subscription revenue rose 16.4% to $408 million, according to the company's earnings disclosures.
Total subscription revenue increased 11.7% to approximately $538 million. Consolidated revenue grew 11% from the prior-year period.
Chief Financial Officer Will Bardeen attributed a 3.1% increase in digital-only average revenue per user to a bundle price increase applied in the first quarter for a cohort of tenured subscribers, along with pricing step-up performance as subscribers moved off promotional offers.
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