New York Times (NYT) Surges 15.5% on Strong Earnings

We recently published 10 Stocks With Easy 15-30% Upside. The New York Times Company (NYSE:NYT) is one of the best-performing stocks on Wednesday.

The New York Times soared by 15.54 percent on Wednesday to close at $61.95 apiece as investor sentiment was fueled by a strong income performance in the second quarter of the year.

In an updated report, The New York Times Company (NYSE:NYT) said net income increased by 26.6 percent in the second quarter of the year to $82.9 million from $65.5 million in the same period last year. Revenues grew by 9.7 percent to $685.87 million from $625 million year-on-year on the back of strong figures across all segments.

In the six-month period, net income jumped by 25 percent to $132.5 million from $105.9 million year-on-year, while revenues were up by 8.4 percent to $1.32 billion from $1.2 billion.

Additionally, The New York Times Company (NYSE:NYT) continued to post a sequential increase in its total subscribers, by 1.9 percent quarter-on-quarter, and by 9.6 percent year-on-year.

For the third quarter, The New York Times Company (NYSE:NYT) expects total revenues to grow by low- to mid-single digits; digital advertising revenues to rise by low double-digits; digital subscriptions between 13 and 16 percent; and total subscription revenues by 8 to 10 percent.