The per-share earnings dipped slightly from that of 2010, and the operating profit also dropped by about $5 million, to bout $106 million. For the full year, the company reported a net loss of $40 million, compared with a profit of $108 million in 2010.
But there was one bright spot in the news today, and that was their ongoing efforts to charge for digital content. The paper of record launched a controversial paywall in mid-2011, and it looks like their efforts might be paying off.
“In the second half of the year, our digital initiatives also included the launch of the new pay site, BostonGlobe.com, and digital subscription packages at the International Herald Tribune. As of quarter end, paid subscribers to all of the Company’s digital subscription packages, e-readers and replica editions totaled about 406,000,” said Arthur Sulzberger, Jr., chairman and chief executive officer, The New York Times Company.
Digital advertising revenue was up 5% in the last quarter, and digital subscription revenue was up 4.7% as well.
image by Robert Scoble