The New York Times said it has reached an all time high in paid subscriptions, with 4.7 million subscribers across digital and print.
However, adjusted operating profit — the company’s preferred measure of performance — fell 6.4 percent, to $55.6 million.
Nearly 3.8 million subscribe to online products offered by the newspaper, the company saying it added a net total of 197,000 customers for its news, crossword and cooking apps during the quarter.
“We’re making steady progress toward our goal of reaching 10 million total subscriptions by 2025,” CEO Mark Thompson said. Thompson also excused the dip in profit explaining it was “in large part a result of continued investment into growing our subscription business.”
The news comes in the wake of a Twitter outburst against the newspaper over a headline that framed President Donald Trump’s remarks following multiple mass shootings as “TRUMP URGES UNITY VS. HATE.”
[Image by Don Emmert/AFP/Getty Images]
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