Newspaper giant bullish

NEW York Times reported better-than-expected earnings yesterday and said that second-quarter revenue rose about 1 per cent, as more advertisers and readers opened their wallets than they did a year before.

By The Newsroom

Published 21st Jul 2010, 23:55 BST

Updated 22nd Jul 2010, 22:34 BST

The company posted second-quarter net income of $32 million (21m), or 21 cents a share, compared with $39m, or 27 cents a share, in the same quarter a year ago.

The company, which publishes its namesake newspaper and the Boston Globe, said second-quarter revenue from advertising was essentially flat at $315m, while circulation revenue increased about 3 per cent to $234.8m.