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New York Times (NYT) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
New York Times (NYT) reported revenue of $701M for the third quarter 2025 (Q3 2025), +9% from a year earlier and +2% from the quarter before. Operating margin was 15.0%, net earnings $81.6M (11.7% of revenue).
New York Times, Q3 2025: revenue $701M (+10% year over year), operating margin 15.0%, net earnings $81.6M, operating cash flow $208M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $701M | +2% | +9% |
| Operating profit | $105M | -2% | +37% |
| Net earnings | $81.6M | -2% | +27% |
| Operating cash flow | $208M | +83% | +65% |
| Free cash flow | $200M | +93% | +69% |
What changed
Revenue was $700.8M in Q3 2025, up 9% year over year and up 2% from the previous quarter. Subscription was the largest line at 71% of revenue. Subscription added $41.3M year over year (up 9%), 68% of the total change.
Operating profit was $104.8M, a 15.0% margin (up 3.0 points year over year). Of the extra revenue versus a year earlier, 46% reached operating profit, above the 12% margin then. Total costs grew 6% against revenue growth of 9%. The fastest-growing cost line was Sales & marketing (+15%). Net earnings were $81.6M, up 27% year over year. The effective tax rate was 24.4%.
Operating cash flow was $207.6M (up 65% year over year), 254% of net earnings. Non-cash charges added back $21.3M of depreciation and amortization and $18.5M of share-based compensation. Working capital and other items added $86.1M. Capital expenditures of $7.9M left free cash flow of $199.7M.
Questions
What was New York Times' revenue in the third quarter 2025?
New York Times (NYT) reported revenue of $701M for the third quarter 2025 (Q3 2025), +9% from a year earlier and +2% from the quarter before.
Was New York Times profitable in the third quarter 2025?
Operating profit was $105M (15.0% of revenue) and net earnings $81.6M.
Source: New York Times 10-Q on SEC EDGAR.