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New York Times (NYT) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
New York Times (NYT) reported revenue of $686M for the second quarter 2025 (Q2 2025), +10% from a year earlier and +8% from the quarter before. Operating margin was 15.5%, net earnings $82.9M (12.1% of revenue).
New York Times, Q2 2025: revenue $686M (+10% year over year), operating margin 15.5%, net earnings $82.9M, operating cash flow $114M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $686M | +8% | +10% |
| Operating profit | $107M | +82% | +34% |
| Net earnings | $82.9M | +67% | +27% |
| Operating cash flow | $114M | +15% | +42% |
| Free cash flow | $103M | +15% | +42% |
What changed
Revenue was $685.9M in Q2 2025, up 10% year over year and up 8% from the previous quarter. Subscription was the largest line at 70% of revenue. Subscription added $42.1M year over year (up 10%), 69% of the total change.
Operating profit was $106.6M, a 15.5% margin (up 2.8 points year over year). Of the extra revenue versus a year earlier, 45% reached operating profit, above the 13% margin then. Total costs grew 6% against revenue growth of 10%. The fastest-growing cost line was Sales & marketing (+13%). Net earnings were $82.9M, up 27% year over year. The effective tax rate was 25.7%.
Operating cash flow was $113.6M (up 42% year over year), 137% of net earnings. Non-cash charges added back $21.4M of depreciation and amortization and $17.8M of share-based compensation. Working capital and other items used $8.5M. Capital expenditures of $10.3M left free cash flow of $103.3M.
Questions
What was New York Times' revenue in the second quarter 2025?
New York Times (NYT) reported revenue of $686M for the second quarter 2025 (Q2 2025), +10% from a year earlier and +8% from the quarter before.
Was New York Times profitable in the second quarter 2025?
Operating profit was $107M (15.5% of revenue) and net earnings $82.9M.
Source: New York Times 10-Q on SEC EDGAR.