NYTCo Triples Q4 Profit Aided By Lower Costs, Better Ad Numbers; Digital Ad Rev Up 11 Percent

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NYTCo Triples Q4 Profit Aided By Lower Costs, Better Ad Numbers; Digital Ad Rev Up 11 Percent

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It says a lot about how tough the last year has been when a revenue decline of 11.5 percent is an improvement after a Q3 that was down nearly 17 percent. The New York Times Co. (NYSE: NYT) turned in better than expected revenue, ad numbers and profit for Q4—and managed to end 2009 in the black. Much of the upside came from cost cutting to the tune of 16 percent overall.

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[David adds] About Group: The segment that houses guide site About.com, along with other NYTCo online properties ConsumerSearch.com, UCompareHealthCare.com and Calorie-Count.com, experienced a considerable turnaround from Q408. Total About Group revenues grew 21.8 percent to $36.3 million. The unit attributed to both cost-per-click and display revenues. In contrast, the About Group’s revenues fell 2.9 percent in Q408.

Profits were also robust at About, as earnings grew 80.3 percent to $18 million, thanks in part to a reduction in expenses, which declined 7.6 percent to $18.3 million.

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