New York Times reports 95.7 percent fall in quarterly profit

New York Times reports 95.7 percent fall in quarterly profit
By REUTERS
PUBLISHED: 08:48 EDT, 2 November 2016 | UPDATED: 09:00 EDT, 2 November 2016

The New York Times Co reported a 95.7 fall in quarterly profit, hit by restructuring charges related to headcount reductions.

Net profit attributable to the newspaper publisher fell to $406,000, or break-even per share, in the third quarter, from $9.4 million, or 6 cents per share, a year earlier.

Revenue fell to $363.6 million from $367.4 million.


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