NYT 10-Q: Q2 2024 Results Filed

TL;DR

NYT Q2 2024 10-Q is in - check the numbers for subs, ads, and other revenue streams.

AI Summary

The New York Times Company (NYT) filed its 10-Q for the period ending June 30, 2024. The company reported its financial results for the second quarter and the first half of the year, detailing performance across its subscription, advertising, and other products and services segments. Specific financial figures for revenue, profit, and other key metrics are detailed within the filing.

Why It Matters

This filing provides investors and the public with the latest financial performance data for The New York Times Company, crucial for understanding its business health and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing financial updates, not indicating any immediate or significant new risks.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which results are reported.)
• 20240807 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• NEW YORK TIMES CO (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240807 (date) — Date of filing
• 620 EIGHTH AVENUE (location) — Business and mailing address
• NY (location) — State of incorporation and business address
• 10018 (location) — ZIP code for business and mailing address
• 2125561234 (phone_number) — Business phone number

FAQ

Filing Documents

• nyt-20240630.htm (10-Q) — 2023KB
• ex311_6302024.htm (EX-31.1) — 12KB
• ex312_6302024.htm (EX-31.2) — 11KB
• ex321_6302024.htm (EX-32.1) — 5KB
• ex322_6302024.htm (EX-32.2) — 4KB
• 0000071691-24-000132.txt ( ) — 9343KB
• nyt-20240630.xsd (EX-101.SCH) — 46KB
• nyt-20240630_cal.xml (EX-101.CAL) — 82KB
• nyt-20240630_def.xml (EX-101.DEF) — 303KB
• nyt-20240630_lab.xml (EX-101.LAB) — 610KB
• nyt-20240630_pre.xml (EX-101.PRE) — 452KB
• nyt-20240630_htm.xml (XML) — 1768KB

Financial Information 1

PART I Financial Information 1

Financial Statements 1

Item 1 Financial Statements 1 Condensed Consolidated Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023 1 Condensed Consolidated Statements of Operations (unaudited) for the quarters and six months ended June 30, 2024 and June 30, 2023 3 Condensed Consolidated Statements of Comprehensive Income (unaudited) for the quarters and six months ended June 30, 2024 and June 30, 2023 4 Condensed Consolidated Statements of Changes In Stockholders' Equity (unaudited) for the quarters and six months ended June 30, 2024 and June 30, 2023 5 Condensed Consolidated Statements of Cash Flows (unaudited) for the quarters and six months ended June 30, 2024 and June 30, 2023 7 Notes to the Condensed Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations 23

Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations 23

Quantitative and Qualitative Disclosures About Market Risk 42

Item 3 Quantitative and Qualitative Disclosures About Market Risk 42

Controls and Procedures 43

Item 4 Controls and Procedures 43

Other Information 44

PART II Other Information 44

Legal Proceedings 44

Item 1 Legal Proceedings 44

Risk Factors 44

Item 1A Risk Factors 44

Unregistered Sales of Equity Securities and Use of Proceeds 44

Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 44

Other Information 44

Item 5 Other Information 44

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements THE NEW YORK TIMES COMPANY CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share data) June 30, 2024 December 31, 2023 (Unaudited) Assets Current assets Cash and cash equivalents $ 222,946 $ 289,472 Short-term marketable securities 188,436 162,094 Accounts receivable (net of allowances of $ 12,550 as of June 30, 2024 and $ 12,800 as of December 31, 2023) 181,280 242,488 Prepaid expenses 50,410 59,712 Other current assets 73,081 27,887 Total current assets 716,153 781,653 Other assets Long-term marketable securities 312,593 257,633 Property, plant and equipment (less accumulated depreciation and amortization of $ 889,750 as of June 30, 2024 and $ 870,329 as of December 31, 2023) 502,740 514,245 Goodwill 414,163 416,098 Intangible assets, net 271,614 285,490 Deferred income taxes 128,152 114,505 Miscellaneous assets 327,953 344,971 Total assets $ 2,673,368 $ 2,714,595 See Notes to Condensed Consolidated Financial Statements. 1 THE NEW YORK TIMES COMPANY CONDENSED CONSOLIDATED BALANCE SHEETS-(Continued) (In thousands, except share and per share data) June 30, 2024 December 31, 2023 (Unaudited) Liabilities and stockholders' equity Current liabilities Accounts payable $ 120,902 $ 116,942 Accrued payroll and other related liabilities 124,426 174,316 Unexpired subscriptions revenue 174,904 172,772 Accrued expenses and other 122,897 147,529 Total current liabilities 543,129 611,559 Other liabilities Pension benefits obligation 213,638 219,451 Postretirement benefits obligation 19,169 19,402 Other 92,446 100,964 Total other liabilities 325,253 339,817 Stockholders' equity Common stock of $ .10 par value: Class A – authorized: 300,000,000 shares; issued: as of June 30, 2024 – 177,682,187 ; as of December 31, 2023 – 176,951,162 (including treasury shares: as of June 30, 2024 – 14,101,476 ; as of December 31, 2023 – 13,189,925 ) 17,770 17,697 Class B – convertible –

View Full Filing

View this 10-Q filing on SEC EDGAR