New York Times Company (NYSE:NYT) shares are trading lower in the premarket session on Wednesday.

Here’s what the company reported:

• Fourth-quarter adjusted earnings per share of 80 cents beat the street view of 74 cents.
• Quarterly sales of $726.6 million missed the analyst consensus estimate of $726.65 million.
• 350,000 net digital-only subscribers gained; the total hovers at 11.43 million.
• Digital-only ARPU rose 4.4% to $9.65 due to price increases and subscriber transitions.
• Digital subscription revenues grew 16.0%, while digital advertising revenues increased 9.5%.
• Total subscription revenues increased 8.4% to $466.6 million in the fourth quarter.
• Advertising revenues increased 0.6% to $165.1 million
• Digital advertising revenues increased 9.5%
• Print advertising revenues decreased 16.4%.
• Adjusted operating profit margin was 23.5%, a year-over-year increase of approximately 70 basis points.

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The New York Times approved a $350 million share repurchase program and declared a 5 cent increase in its dividend to 18 cents per share. The dividend is payable on April 17.

New York Times CEO Meredith Kopit Levien said, “Deep engagement fueled our multi-revenue stream model, and enhanced our durability even in a dynamic information ecosystem.”

In its conference call, Levien announced the company will have a pipeline of new content, shows, features, games, and enhancements this year. There is also strong demand for the company’s lifestyle products, she added.

When it comes to sports, The Athletic’s revenues grew 29% in the fourth quarter of 2024 to $49.7 million from $38.5 millionin the fourth quarter of 2023.

Price Action: New York Times shares are trading lower by 11.3% to $49.55 at last check Wednesday.

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