August 1, 2013 / 12:40 PM / in 4 years

New York Times Co reports slip in total revenue

Aug 1 (Reuters) - New York Times Co reported on Thursday that revenue slipped almost 1 percent to $485.4 million, as gains in subscriptions to its flagship and other newspapers could not offset declines in advertising.

Total operating profit for the second quarter was $53.4 million compared with $44.1 million in the same period a year before.

“The increase in operating profit reflects the ongoing evolution of our digital subscription initiatives on the circulation side, the moderation of revenue declines on the advertising side and the continued focus on managing costs,” New York Times CEO Mark Thompson said in a statement

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