The New York Times Co reported a 95.7 fall in quarterly profit, hit by restructuring charges related to headcount reductions.Question for Bruce Mo** - is this how you become a nonprofit, or do you still have to ask the IRS?
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.
The company, struggling to transition to digital, said online ad revenues grew 21.5 percent and now account for more than 35 percent of its advertising receipts.
Saturday, November 05, 2016
And Now For More Boston Globe Bashing - XLIV
The New York Times, former parent company of the Boston Globe made a profit last quarter - a very small profit: