Author: Michael

The New York Times topped Wall Street expectations for revenue and earnings in the second quarter, fueled by continued growth in digital subscriptions and advertising. Shares, however, fell about 8.7% in premarket trading after the company forecast slower subscription revenue growth in the third quarter. The publisher said it expects total subscription revenue to grow 9% to 11% in the third quarter, below the 11.2% growth it reported during the second quarter. The outlook suggested that subscription revenue growth would moderate despite another quarter of subscriber gains. Net profit: $96.3 million, down 9.7% compared with $106.6 million last year. Revenue:…

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Disney reported a net profit of $2.6 billion, or adjusted earnings of $2.06 per share, on revenue of $25.25 billion, compared to earnings of $1.85 per share and revenue of $25.4 billion expected by Wall Street analysts. The entertainment giant will shift its consumer products business results from its Experiences division to its Entertainment division to better reflect the returns from the content it produces Disney+ will add more games from ESPN starting this fall to help drive engagement and upsell subscribers to its trio bundle Disney posted fiscal third-quarter results that topped Wall Street earnings expectations, with a profit…

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