Ad slump hits New York Times profits!

Fast facts from Guardian.co.uk

Pedestrians walk past the New York Times headquarters in New York

  • Declines in advertising and circulation bring down New York Times Company’s operating profit by 7.1% in fourth quarter of last year.
  • Newspaper advertising remains in the doldrums and contributed to a 26.2% drop in income at the owner of the New York Times in the fourth quarter of last year, the media group announced.
  • Falls in advertising and circulation pulled revenues down 2.9% for the quarter. Operating profit fell by 7.1% to $146.4m (£90.7m) in the fourth quarter of 2010, compared with $157.6m in the same period of 2009.
  • Online advertising rose 11% and digital business accounted for 17% of the company’s fourth-quarter revenue, up from 15% for the same period last year.
  • But print advertising revenue dropped 7.2% from the fourth quarter of 2009. The fall followed a nearly 6% drop in print advertising in the previous quarter, but was a noticeable improvement on the 20% plunge a year earlier. Overall advertising revenue dropped 3.1% to $385.8m from $398m.
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