The New York Times Co., Q1 Profit Increases, beats estimates

(RTTNews) - The New York Times Co., (NYT) released earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $40.42 million, or $0.24 per share. This compares with $22.32 million, or $0.13 per share, in last year's first quarter.

Excluding items, The New York Times Co., reported adjusted earnings of $0.31 per share for the period.

Analysts on average had expected the company to earn $0.20 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.9% to $594.02 million from $560.74 million last year.

The New York Times Co., earnings at a glance (GAAP) :

-Earnings (Q1): $40.42 Mln. vs. $22.32 Mln. last year. -EPS (Q1): $0.24 vs. $0.13 last year. -Revenue (Q1): $594.02 Mln vs. $560.74 Mln last year.