THE New York Times Co has announced a modest profit in a quarter in which digital subscriptions rose but revenues fell, including from online and print advertising.
The media company seeking to manage a shift to digital readership reported net income for the third quarter of $US2.28 million ($A2.21 million), a slump of 85 per cent from a year ago, when profits saw a temporary boost from asset sales.
Overall revenue fell 0.6 per cent from a year ago to $US449 million, hurt by weakness in advertising, but partially offset by gains in paid digital subscribers.
The company said on Thursday paid subscribers to The New York Times and the International Herald Tribune rose by 57,000 or 11 per cent from the end of the second quarter to 566,000. The number of paid subscribers to its Boston Globe unit rose by 13 per cent to 26,000.
But the Times said print ad revenues fell 10.9 per cent and digital ads were down 2.2 per cent "largely due to the challenging economic environment, ongoing secular trends and an increasingly complex and fragmented digital advertising marketplace".
"While our results for the third quarter reflect continued pressure on advertising revenues, total circulation revenues rose, led by the ongoing expansion of our digital subscription base," said Arthur Sulzberger Jr, chairman and chief executive officer.
"Digital subscription trends have remained robust."
Like other US newspapers, the Times has been struggling with declining print advertising revenue, falling circulation and the migration of readers to free news online.
The Times began charging in March last year for full access to NYTimes.com and it launched a subscription-only website for the Boston Globe in October last year.
Gains from two major asset sales recently concluded by the company will be recorded in the fourth quarter. They were the sale of the About.com for $US300 million and the Times' stake in Indeed.com for $US167 million.
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