Good news for The New York Times: Revenue surges from advertising and subscription gains:
According to Kopit Levien, who was named to her job last year, the Times has a potential addressable market of at least 100 millon people willing to pay for English-language journalism. The publisher is continuing to invest in its products to remain competitive in the marketplace.
“That includes investing thoughtfully in our news operation to cover the most important stories of our time and to meet more news needs,” she said. “It means investing in our adjacent products to meet a broader array of life needs, as we have done with Cooking and Games, each of which is now closing in on a million subscriptions. And it means investing to build the underlying tech, product experience, and company culture required for us to scale.
Shares of the Times recently traded at $47.40, about a 10% increase. Wall Street analysts believe the stock has more room to run. The 52-week median target of Wall Street analysts on the Times is $56, indicating a potential upside of 19%.
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