New York Times earnings boosted by digital bundling push

The newspaper added a million new subscribers in 2022 and has a goal of 15 million subscribers by 2027

The company's shares rose 10% to $40 as the publisher added 240,000 digital-only subscribers in the fourth quarter, compared with 180,000 in the third quarter. Photo by Leonardo Munoz/VIEWpress

The New York Times beat Wall Street estimates for quarterly earnings on Wednesday as more people signed up for its digital subscription bundles, offsetting a slowdown in ad sales and helping the newspaper unveil a $250m (€232m) share buyback.

The Times has in the past few years embarked on a bundling push, combining its core news reports with digital content ranging from podcasts to cooking recipes and games in hopes of getting more revenue from readers.