The New York Times Co.’s stock
NYT,
was up 3.8% in premarket trading Wednesday after the media company’s third-quarter profit and revenue beat analyst estimates. The media company’s third-quarter net income rose by 46% to $53.61 million, or 32 cents a share, from $36.62 million, or 22 cents a share, in the year-ago quarter. Adjusted third-quarter profit of 37 cents a share beat the FactSet consensus estimate of 29 cents a share. Revenue rose 9% to $598.4 million, ahead of the analyst estimate of $589.5 million. The publishing company ended the quarter with 10.08 million subscribers, including 9.4 million digital-only subscribers. The company added about 210,000 net digital-only subscribers from the previous quarter.
