Q2 26 EPS
$0.69
BEAT +3.56%
Est. $0.67
Q2 26 Revenue
$762.5M
BEAT +1.41%
Est. $751.9M
vs S&P Since Q2 26
-16.4%
TRAILING MARKET
NYT -16.0% vs S&P +0.5%
Market Reaction
Did NYT Beat Earnings? Q2 2026 Results
The New York Times Company posted a clean beat across both top and bottom lines in the second quarter of 2026, extending its streak of beating consensus EPS estimates to five consecutive quarters. Adjusted diluted EPS of $0.69 topped the $0.67 consen… Read more The New York Times Company posted a clean beat across both top and bottom lines in the second quarter of 2026, extending its streak of beating consensus EPS estimates to five consecutive quarters. Adjusted diluted EPS of $0.69 topped the $0.67 consensus estimate by 3.56%, while revenue climbed 11.2% year-over-year to $762.46 million, edging past analyst expectations of $751.86 million. The primary engine behind the quarter was digital subscriptions, where revenues grew 16.4% to $407.93 million as the company added roughly 280,000 net digital-only subscribers during the period, bringing its digital-only base to approximately 12.80 million. A 3.1% rise in digital-only average revenue per user to $9.94, driven by subscribers rolling off promotional pricing, added further lift. Adjusted operating profit margin expanded approximately 90 basis points year-over-year to 20.4%. Looking ahead, management guided for digital-only subscription revenue growth of 12-15% in the third quarter, with digital advertising expected to increase in the mid-to-high-teens, signaling continued momentum in the company's digital transformation.
Key Takeaways
- • Digital-only subscriber growth of approximately 1.5 million year-over-year to 12.80 million
- • Digital-only ARPU increased 3.1% YoY to $9.94 driven by promotional-to-higher-price transitions and price increases on tenured subscribers
- • Strong marketer demand and growth in advertising supply drove 20.7% digital advertising growth
- • Higher Wirecutter affiliate referral revenues benefited from timing shift of partner marketing promotion
- • Adjusted operating profit margin expanded approximately 90 basis points to 20.4%
NYT Forward Guidance & Outlook
For Q3 2026 vs. Q3 2025, the company guided: digital-only subscription revenues to increase 12-15%; total subscription revenues to increase 9-11%; digital advertising revenues to increase mid-to-high-teens; total advertising revenues to increase high-single-to-low-double-digits; affiliate, licensing and other revenues to increase low-to-mid-single-digits; adjusted operating costs to increase 8-9%. For full-year 2026, the company expects depreciation and amortization of approximately $85 million (including $25-$30 million of acquired intangible assets amortization), interest income and other net of approximately $45-$50 million, and capital expenditures of approximately $35-$45 million. The company expects lower cash tax payments of approximately $60 million in fiscal 2026 from the OBBBA, with the majority of this benefit not expected to recur beyond fiscal 2026.
NYT YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
NYT Revenue by Segment
With YoY comparisons, source: SEC Filings
“Q2 was another strong quarter for The Times, driven by the consistent execution of our strategy. Our results reflect the increasingly rare and valuable nature of our products, and the durability of our business model. By continuing to invest in independent, high-quality journalism and market-leading lifestyle products—and leaning into our opportunity in video—we're becoming even more essential to even more people. In a rapidly changing media landscape, we believe we are well positioned to continue building a larger, more profitable company.”
— Meredith Kopit Levien, Q2 2026 Earnings Press Release
NYT Earnings Trends
NYT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
NYT EPS Trend
Earnings per share: estimate vs actual
NYT Revenue Trend
Quarterly revenue: estimate vs actual
NYT Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $0.67 | $0.69 | +3.56% | $762.5M | +1.41% |
| Q1 26 BEAT | $0.48 | $0.61 | +26.19% | $712.2M | +1.42% |
| Q4 25 BEAT FY | $0.88 | $0.89 | +1.06% | $802.3M | +1.36% |
| FY Full Year | $2.38 | $2.46 | +3.46% | $2.82B | +0.40% |
| Q3 25 BEAT | $0.53 | $0.59 | +10.84% | $700.8M | +1.27% |
| Q2 25 BEAT | $0.51 | $0.58 | +12.71% | $685.9M | +2.42% |
| Q1 25 BEAT | $0.34 | $0.41 | +19.88% | $635.9M | +0.14% |