Analysis: "The New York Times Company Reports 2009 First-Quarter Results"

“The New York Times Company Reports 2009 First-Quarter Results” via Yahoo! Finance.

Internet businesses include NYTimes.com, About.com, Boston.com and other Company Web sites. Total Internet revenues decreased 5.6 percent to $78.2 million from $82.9 million and Internet advertising revenues declined 6.1 percent to $67.6 million from $72.0 million. Internet advertising revenues at the News Media Group decreased 8.0 percent to $42.2 million from $45.8 million. In total, Internet businesses accounted for 12.8 percent of the Company’s revenues compared with 11.1 percent in the 2008 first quarter.

In addition, The New York Times Company had the 13th largest presence on the Web, with 52.3 million unique visitors in the United States in March 2009 according to Nielsen Online, up about 4 percent from 50.4 million unique visitors in March 2008. Also according to Nielsen Online, NYTimes.com had 20.1 million unique visitors in March 2009 versus 18.9 million in March 2008, up about 7 percent, and was the No. 1 newspaper Web site in the United States, a position it has long held.

What it means: the excerpt above shows online results from the New York Times Co.  Traffic is still growing but revenues are going down, clearly impacted by the tough US ad market. I suspect the online display ad market is not doing so well. Overall advertising revenues at the group are down 27%, lead by a drop of 45% of classifieds revenues.

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