Shares of New York Times Co. NYT surged 1.6% in premarket trading Tuesday, after the digital and print news company reported second-quarter earnings that beat expectations, as growth in subscription revenue offset flat advertising revenue. Net income fell $46.6 million, or 28 cents a share, from $61.8 million, or 37 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to 38 cents from 28 cents and was well above the FactSet consensus of 21 cents.
6% in premarket trading Tuesday, after the digital and print news company reported second-quarter earnings that beat expectations, as growth in subscription revenue offset flat advertising revenue. Net income fell $46.6 million, or 28 cents a share, from $61.8 million, or 37 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to 38 cents from 28 cents and was well above the FactSet consensus of 21 cents. Revenue grew 6.3% to $590..