NY Times Reports 3Q Loss of $12.9M

The New York Times Company said on Thursday that its third-quarter revenue increased by less than 1 percent from a year ago, as growth in its digital business offset declines in print circulation and advertising.

The Times planned to spur revenue growth in 2014 with the introduction of several new digital subscription products, but those products have not caught on as the company had hoped. Total revenue during the third quarter increased 0.8 percent to $365 million, compared with $362 million in the same period last year.

In a call with investors, the company’s chief executive, Mark Thompson, said that the new products reflected a desire to be “unashamedly experimental and willing to adapt.” Its chief financial officer, James M. Follo, said that the company was “still in the early stages of a multiyear transformation.”

The company posted a third-quarter operating loss of $9 million, compared with an operating profit of $12.9 million in the same period of 2013. Investment in its new product initiatives, which include the mobile app NYT Now, contributed to the loss.

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