Filing Flows › New York Times (NYT) › Q1 2025
New York Times (NYT) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
New York Times (NYT) reported revenue of $636M for the first quarter 2025 (Q1 2025), +7% from a year earlier and -12% from the quarter before. Operating margin was 9.2%, net earnings $49.6M (7.8% of revenue).
New York Times, Q1 2025: revenue $636M (+7% year over year), operating margin 9.2%, net earnings $49.6M, operating cash flow $99.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $636M | -12% | +7% |
| Operating profit | $58.6M | -60% | +21% |
| Net earnings | $49.6M | -60% | +23% |
| Operating cash flow | $99.1M | -35% | +87% |
| Free cash flow | $89.9M | — | +93% |
What changed
Revenue was $635.9M in Q1 2025, up 7% year over year and down 12% from the previous quarter. Subscription was the largest line at 73% of revenue. Subscription added $35.3M year over year (up 8%), 84% of the total change.
Operating profit was $58.6M, a 9.2% margin (up 1.1 points year over year). Of the extra revenue versus a year earlier, 25% reached operating profit, above the 8% margin then. Total costs grew 6% against revenue growth of 7%. The fastest-growing cost line was Other operating costs (+39%). Net earnings were $49.6M, up 23% year over year. The effective tax rate was 22.5%.
Operating cash flow was $99.1M (up 87% year over year), 200% of net earnings. Non-cash charges added back $21.4M of depreciation and amortization and $17.4M of share-based compensation. Working capital and other items added $10.8M. After capital expenditures ($9.2M), free cash flow as the company reports it was $89.9M.
Questions
What was New York Times' revenue in the first quarter 2025?
New York Times (NYT) reported revenue of $636M for the first quarter 2025 (Q1 2025), +7% from a year earlier and -12% from the quarter before.
Was New York Times profitable in the first quarter 2025?
Operating profit was $58.6M (9.2% of revenue) and net earnings $49.6M.
Source: New York Times 10-Q on SEC EDGAR.