A Foolish Take: Is Trump saving the 'failing' New York Times?
Traffic passes The New York Times building, in New York on Oct. 18, 2011. The newspaper on May 31, 2017, began offering buyouts to editorial staffers, seeking to reduce the number of editors on staff.
And profits followed. Excluding one-time charges, the company earned $67.1 million in operating profit in the quarter versus $54.5 million in the same quarter last year, "principally driven by very strong digital revenues," according to the Q2 press release.
"We saw a significant increase in the number of paid digital-only subscriptions to our news products following the 2016 presidential election," noted the Times in a regulatory filing earlier this year. "Given that this increase occurred late in 2016, the revenue generated from these subscriptions is expected to be reflected more fully in 2017."
Another quarter like this, and Trump might have to come up with a new nickname for the nation's paper of record.
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