Overview
- The Times reported Q2 revenue of $762.5 million and net profit of $96.3 million while adding about 280,000 net digital-only subscribers, bringing total subscribers to roughly 13.4 million.
- Digital-only subscription revenue rose 16.4% to $409.7 million, helped by higher ARPU even as the pace of new digital-only adds slowed versus the prior quarter.
- Management guided Q3 total subscription revenue growth to 9%–11% and digital-only revenue to 12%–15%, a midpoint that some analysts saw as conservative and below recent trends.
- Shares fell about 8% in premarket trading after the guidance, reflecting investor concern that subscriber-unit growth may moderate and slow overall subscription revenue expansion.
- The company said it will lean on bundling news with lifestyle properties such as Wirecutter and The Athletic and invest in video and games to boost engagement, diversify revenue and protect ARPU in a competitive referral and search environment.