New York Times saw their profits drop by 54% in Quarter 2 of 2014. The old gray lady ain’t what she used to be. Well actually, the New York Times hasn’t changed at all over the years. They’ve always had a far-left extremist progressive liberal bias. Now, that bias is eating away at their profits. Too bad, so sad.
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| Karma! N.Y. Times profits drop 54% in Q2 |
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A fall in advertising revenues and stepped-up investment in digital products outweighed rises in digital subscribers and circulation revenue at the New York Times, sending headline profit 54 per cent lower in the second quarter.
Net income of $9.2m, or six cents a share, compared with $20.1m, or 13 cents a share, a year ago. Adjusted operating profit, which strips out some one-time costs including retirement costs and depreciation, fell 21 per cent to $55.7m from $70.7m.
While circulation increased by a measly 1.4%, ad sales dropped by almost three times as much to -4.1%.