New York Times reports lower revenue on ad slide

April 25 Thu Apr 25, 2013 8:39am EDT

April 25 (Reuters) - New York Times Co reported a decline in quarterly revenue as advertisers pulled back their spending.

First-quarter revenue fell 2 percent to $465.9 million, below analysts' expectations of $470.5 million, according to Thomson Reuters I/B/E/S.

The company reported on Thursday earnings per share from continuing operations of 2 cents compared with 6 cents in the same period last year.

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California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

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