New York Times Co. said net profit rose by 63% in the third quarter, boosted by a strong rebound in advertising revenue, but warned that the end of a one-year promotional-pricing offer ahead of last year’s presidential election would pressure subscriber growth in the coming quarter.
The Times said it signed up 455,000 new digital subscribers in the quarter, 320,000 of which were for its core news offering and 135,000 were for lower-cost digital products such as its games, cooking and Wirecutter, the company’s product-review site.
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