New York Times
The 10-second takeaway
For the quarter ended March 31 (Q1), New York Times met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share improved significantly.
Gross margins expanded, operating margins dropped, and net margins expanded.
New York Times reported revenue of $499.4 million. The four analysts polled by S&P Capital IQ expected to see revenue of $500.7 million on the same basis. GAAP reported sales were 12% lower than the prior-year quarter's $566.5 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $0.08. The six earnings estimates compiled by S&P Capital IQ averaged $0.02 per share on the same basis. GAAP EPS of $0.28 for Q1 were much higher than the prior-year quarter's $0.04 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 57.3%, 30 basis points better than the prior-year quarter. Operating margin was 5.3%, 30 basis points worse than the prior-year quarter. Net margin was 8.4%, 740 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $511.8 million. On the bottom line, the average EPS estimate is $0.13.
Next year's average estimate for revenue is $2.08 billion. The average EPS estimate is $0.68.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 170 members out of 429 rating the stock outperform, and 259 members rating it underperform. Among 141 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 46 give New York Times a green thumbs-up, and 95 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 $8.25.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.