The New York Times posted a profit in the second quarter, buoyed by circulation revenue, which grew by five percent compared to 2012′s second quarter. According to the Times, circulation revenue jumped from $233 million last year to $245.1 million this year.
Gains from circulation were mostly offset by declines in ad revenue, which dropped by almost six percent (5.8) compared to 2Q 2012. Print ads dropped by 6.8 percent and digital ads declined by 2.7 percent.
Digital readers continue to be a significant bright spot for the Times. The paper now has 699,000 digital subscribers, which represents a whopping 35 percent increase compared to last year.