New York Times Company (the) · NYSE:NYT
New York Times Company (the) — Q2 2026 Earnings Presentation
20 slides from New York Times Company (the)'s earnings presentation, Aug 5, 2026
Slide 1: Second Quarter 2026 Earnings Presentation
Second Quarter 2026 Earnings Presentation August 5, 2026
Slide 2: Forward-Looking Statements; Non-GAAP Financial Measures
Forward-Looking Statements Except for the historical information contained herein, the matters discussed in this presentation are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended
Slide 3: Second quarter 2026 business highlights
Second quarter 2026 business highlights Digital Advertising and Affiliate, Licensing Digital-only Subscription Revenues AOP and AOP margin and Other Revenues • Digital-only subscription revenues increased 16.4% • Digital advertising revenues increased 20.7% year- • Year-over-year adjusted operating
Slide 4: Second quarter 2026 actual results compared to guidance
Second quarter 2026 actual results compared to guidance Q2 2026 Guidance Q2 2026 Actuals Digital-only subscription revenues increase 14 - 17% +16.4% Total subscription revenues increase 10 - 12% +11.7% Digital advertising revenues increase high-teens +20.7% Total advertising revenues increase high-s
Slide 5: Continued execution of the Company's strategy is driving healthy financial results
Continued execution of the Company’s strategy is driving healthy financial results Total revenues Adjusted operating profit Adjusted diluted earnings per share +11.2% +16.1% $+0.11 $762M $0.69 $155M $686M $134M $0.58 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Adjusted operating profit is a non-
Slide 6: Total subscription revenues grew 11.7% year-over-year
Total subscription revenues grew 11.7% year-over-year as growth from digital was partially offset by print declines Total subscription revenues Digital-only subscription revenues Print subscription revenues +11.7% $538M +16.4% $481M $408M $350M (0.8)% $131M $130M Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2
Slide 7: Added approximately 280K digital-only net new subscribers, total 13.35 million
The Company added approximately 280K digital-only net new subscribers in the second quarter, bringing the total subscriber count to 13.35 million Total subscribers Digital-only subscriber net adds Digital-only Print 460K 450K 13.08M 13.35M 12.78M 12.33M 0.55M 11.88M 0.57M 0.56M 0.57M 310K 0.58M 280K
Slide 8: Digital-only ARPU grew 3.1% year-over-year
Digital-only ARPU grew 3.1% year-over-year Digital-only ARPU +3.1% $9.64 $9.79 $9.72 $9.77 $9.94 460K 450K 310K 280K 230K Q2 Q3 Q4 Q1 Q2 2025 2025 2025 2026 2026 ARPU Net Adds Subscribers (including net subscriber changes) are rounded to the nearest ten thousand. Digital-only ARPU, a metric we calcu
Slide 9: Continued to scale digital-only subscriber base and revenues
The Company continued to scale its digital-only subscriber base and grow digital-only subscription revenues Digital-only subscribers Digital-only subscription revenues $408M 12.80M $350M 11.30M 10.21M $305M 9.19M $270M 8.41M $239M Q2 2022 Q2 2023 Q2 2024 Q2 2025 Q2 2026 Q2 2022 Q2 2023 Q2 2024 Q2 20
Slide 10: Total advertising revenues increased 11.3% year-over-year
Total advertising revenues increased 11.3% year-over-year Growth was driven by higher digital advertising revenues Total advertising revenues Digital advertising revenues Print advertising revenues +11.3% +20.7% $149M $134M $114M $94M (11.1)% $40M $35M Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2025 Q2 2026
Slide 11: Affiliate, licensing and other revenues grew 7.1% year-over-year
Affiliate, licensing and other revenues grew 7.1% year-over-year Growth was driven by Wirecutter affiliate referral revenues, which benefited from a shift in the timing of a marketing promotion by one of our partners Affiliate, licensing and other revenues +7.1% $75M $70M Q2 2025 Q2 2026
Slide 12: Adjusted operating costs grew 10.0% year-over-year
Adjusted operating costs grew 10.0% year-over-year Growth was driven largely as a result of higher compensation and benefits expenses, primarily relating to our journalism, as well as higher marketing and promotion costs Adjusted operating costs +10.0% $607M $552M $83M $80M $70M $64M $86M $69M $339M
Slide 13: Adjusted operating profit grew 16.1%; margin expanded to 20.4%
Adjusted operating profit grew 16.1% year-over-year and adjusted operating profit margin expanded 90 basis points to 20.4% Adjusted operating profit and adjusted operating profit margin +16.1% $155M $134M 20.4% 19.5% Q2 2025 Q2 2026 AOP AOP Margin Adjusted operating profit and adjusted operating pro
Slide 14: Strong free cash flow; aims to return at least 50% to shareholders
The Company continued to generate strong free cash flow and aims to return at least 50% of free cash flow to shareholders over the mid-term Free Cash Flow1 $623M $537M $551M $542M $455M Jun 30, 2025 Sep 30, 2025 Dec 31, 2025 Mar 31, 2026 Jun 30, 2026 Last twelve months ended (1) The One Big Beautifu
Slide 15: Third quarter 2026 guidance
The New York Times Company’s third quarter 2026 guidance Below is the Company’s guidance for revenues and adjusted operating costs for the third quarter of 2026 compared with the third quarter of 2025 Q3 2026 Guidance Digital-only subscription revenues increase 12 - 15% Total subscription revenues i
Slide 16: Appendix
Appendix @? The New York Times é& Company
Slide 17: Reconciliation of operating profit to adjusted operating profit and margin
Reconciliation of operating profit to adjusted operating profit and adjusted operating profit margin We define adjusted operating profit as operating profit, as reported, before depreciation and amortization, severance, multiemployer pension plan withdrawal costs and special items. Adjusted operatin
Slide 18: Reconciliation of operating costs to adjusted operating costs
Reconciliation of total operating costs to adjusted operating costs and general and administrative costs to adjusted general and administrative costs We define adjusted operating costs as operating costs, as reported, before depreciation and amortization, severance, multiemployer pension withdrawal
Slide 19: Reconciliation of diluted EPS to adjusted diluted EPS
Reconciliation of diluted earnings per share to adjusted diluted earnings per share We define adjusted diluted earnings per share as diluted EPS, as reported, excluding amortization of acquired intangible assets, severance, non-operating retirement costs and special items Second Quarter % Change 202
Slide 20: Reconciliation of operating cash flow to free cash flow
Reconciliation of net cash provided by/(used in) operating activities to free cash flow We define free cash flow as net cash provided by operating activities, as reported, less capital expenditures Last Twelve Months Ended ($ in thousands) Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30,
New York Times Company (The) — Q2 2026 Earnings Presentation on 6ix