Earnings preview: New York Times’ first quarter not expected to be good
Posted by: admin in Stocks NewsFiled under: Earnings reports, Forecasts, Google (GOOG), Yahoo! (YHOO), Time Warner (TWX), New York Times’A’ (NYT)
The New York Times (NYSE: NYT) is set to report Q1 earnings on Tuesday, April 21. Don’t expect a profit. In fact, I wouldn’t expect much of anything. After all, we’re speaking about a company that makes its money off newsprint. Sad as it might be to say, newspapers are fast becoming dinosaurs in the age of digital information.
According to this source, analysts think that the New York Times will lose about $0.04 per share. That’s really bad, considering that the same source states that the company was profitable in the year-ago frame, generating $0.09 per share. It isn’t surprising though, is it? Not only has the recession destroyed advertising growth in all forms of media, but newspapers simply aren’t looked to anymore as the first source of news. The Internet has disrupted that reputation for good.
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Earnings preview: New York Times’ first quarter not expected to be good originally appeared on BloggingStocks on Mon, 20 Apr 2009 17:20:00 EST. Please see our terms for use of feeds.
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