10 Firms Defy Wednesday’s Broader Market Optimism

2. New York Times Co. (NYSE:NYT)

Shares of the New York Times dived by 11.92 percent on Wednesday to end at $49.23 apiece as investors appeared to have discounted news of better 2024 earnings performance.

According to Huber Research analyst Doug Arthur, investor attention seemed to have focused instead on the company’s media expenses increasing by 46 percent during the period.

In its latest earnings release, the New York Times said total revenues for the fourth quarter of 2024 increased by 7.5 percent year-on-year to $726.6 million from $676.2 million.

The company added 350,000 digital subscriptions last quarter, pushing its online membership to 10.8 million.

For the first quarter of 2025, New York Times said it projects a 14 to 17 percent increase in digital subscription revenues, to push its total subscription revenues between 7 to 10 percent.

Digital advertising revenues were expected to rise by high single digits, while total advertising revenues were projected to either decrease or increase by low single digits.