The New York Times Company (NYT) investor relations material

Executive summary

• Total revenues rose 12.0% year-over-year to $712.2 million in Q1 2026, driven by strong digital subscription and advertising growth.

• Digital-only subscription revenues increased 16.1% to $389.0 million, with 310,000 net new digital-only subscribers in the quarter, reaching up to 13.08 million total subscribers.

• Adjusted operating profit grew 27.2% to $118 million, with margin expanding to 16.6%.

• Adjusted diluted EPS rose to $0.61, up from $0.41 year-over-year.

• Operating profit surged 54.5% to $90.6 million, and net income grew 77.4% to $87.9 million.

Financial highlights

• Subscription revenues climbed 11.3% to $516.9 million, with digital-only ARPU up 2.4% to $9.77.

• Digital advertising revenues surged 31.6% to $93.3 million, while print advertising declined 9.8%.

• Affiliate, licensing, and other revenues increased 7.8% to $68.5 million.

• Adjusted operating costs rose 9.4% to $594.3 million, mainly due to higher compensation and benefits.

• Free cash flow for the last twelve months reached $542 million; Q1 2026 free cash flow was $81.5 million.

Outlook and guidance

• Q2 2026 guidance: digital-only subscription revenues expected to rise 14–17%, total subscription revenues 10–12%, digital advertising high teens, total advertising high single digits, affiliate/licensing/other low single digits, and adjusted operating costs up 8–9%.

• Full-year 2026 expected to deliver revenue growth, AOP growth, margin expansion, and strong free cash flow.

• Capital expenditures for 2026 projected at $35–$45 million.