Shares of The New York Times Company plunged more than 13% after the publisher reported slower digital subscriber growth. The company added about 280,000 digital-only subscribers in the second quarter, missing the 295,300 analysts expected and down from 310,000 in the prior quarter, though total subscribers reached 13.35 million. Management cited weaker Google search traffic and fewer referral visits as headwinds, and forecast third-quarter digital subscription revenue growth of 12% to 15%, with the midpoint below Wall Street's 14.2% expectation. Advertising revenue rose 11.3% to $149.1 million, beating estimates, but the subscriber miss and cautious outlook drove the selloff, leaving the stock at $63.58, just 1.68% above its GF Value estimate of $62.53.
New York Times CompanyDigital subscriber growth slowed, missing expectations and lowering outlook
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