NYTCo: June Numbers Signal Another Tough Quarter; Revs Fall Sharply; Internet Growth Slow

Q3 is getting off to a rough start at NYTCo… the publisher came out with July numbers showing total revenue fell 10.1 percent to $235.9 million. Ad revenue, which fell 16.2 percent, was weak across all categories. The internet, normally a “bright spot” is rapidly losing its luster: Internet ad revs at the News Media Group were up just .9 percent, hurt by weakness in online recruitment. NYTCo (NYSE: NYT) says growth in the current month is up in the “low double digits” helped by improved display advertising on NYTimes.com.

The About Group continues to grow at a healthy clip, with revenue rising 14.6 percent to $9.5 million. This growth rate is a bit slower than what it’s been for most of the year, as YTD growth stands at 17.4 percent. Total internet revenue, including About, was up 2.6 percent. It now comprises 12.5 percent of total revenue, up from 11 percent last year. Release.