BERLIN (dpa-AFX) - New York Times Co. (NYT) reported Tuesday that its first-quarter attributable net loss was $8.27 million or $0.05 per share, narrower than net loss of $14.26 million or $0.09 per share a year ago.
Adjusted earnings per share were $0.10 in the first quarter, compared with $0.11 in the first quarter of 2015.
On average, three analysts polled by Thomson Reuters expected earnings of $0.08 per share. Analysts' estimates typically exclude special items.
Total revenues for the first quarter decreased 1.2 percent to $379.52 million from $384.24 million last year. Analysts were looking for revenues of $377.30 million.
Circulation revenues increased 2.4 percent, while advertising revenues declined 6.8 percent and other revenues increased 1.4 percent.
Circulation revenues rose as revenues from the Company's digital subscription initiatives and the 2016 increase in home-delivery prices at The New York Times newspaper more than offset a decline in print copies sold.
Circulation revenue from the Company's digital-only subscriptions increased 14.2 percent.
Looking ahead, for the second quarter, total circulation revenues as well as advertising revenues are expected to increase at a rate similar to that of the first quarter of 2016.
Adjusted operating costs are expected to increase in the low-single digits.
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