Equity Profile

NYT

The New York Times Company

Communication ServicesPublishing$12.1B

Aug5Wed

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

The New York Times Company (NYT) is a leading media organization known for its journalism and digital subscriptions. Operating in the Communication Services sector, it has adapted to changing consumer habits by expanding its digital offerings, which are crucial for revenue growth in the publishing industry.

Key Metrics to Watch

Digital Subscription Growth

This metric indicates how well the company is attracting and retaining subscribers, which is vital for revenue.

Expected to show continued growth.

Advertising Revenue

Advertising is a significant part of NYT's revenue, and any changes can impact overall financial performance.

Expected to remain stable or show slight improvement.

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

NYT Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+12.80%

Avg Stock Reaction

+0.13%

Last Quarter Recap

In Q1-2026, The New York Times Company reported an earnings per share (EPS) of $0.61, exceeding estimates by 25.5%. The stock reacted positively, gaining 8.31% the following day.

Management Promises & Guidance

Continued focus on digital subscription growth.
Investment in new content and technology.
Commitment to maintaining advertising revenue.

Expectations

Wall Street Expectations

Overall, Wall Street expects The New York Times to continue its positive trajectory with strong digital subscription growth and stable advertising revenue.

Bull Case

If digital subscriptions grow significantly and advertising revenue improves, the stock could see a substantial increase.

Bear Case

If subscriber growth slows or advertising revenue declines, the stock may face downward pressure.

Key Metrics to Watch

Digital Subscription Growth

Expected to show continued growth.

This metric indicates how well the company is attracting and retaining subscribers, which is vital for revenue.

Advertising Revenue

Expected to remain stable or show slight improvement.

Advertising is a significant part of NYT's revenue, and any changes can impact overall financial performance.

Operating Margin

Expected to be in line with previous quarters.

This metric reflects the company's efficiency and profitability, which are critical for investor confidence.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the growth rate of digital subscriptions this quarter?

Subscriber growth is crucial for revenue stability and future projections, and any slowdown could raise concerns.

How did advertising revenue perform compared to last quarter?

Advertising revenue is a key indicator of market demand and can significantly impact overall financial health.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the resilience of NYT's digital subscription model, especially given recent trends in consumer media consumption.

Supporting Evidence

The company has consistently beaten EPS estimates, indicating stronger underlying performance.

Options pricing suggests a significant move, which may reflect investor uncertainty that could lead to an overreaction.

Historical trends show that NYT has a strong track record of subscriber retention, which may not be fully appreciated.

Key Risk

If digital subscriptions exceed growth expectations, it could shift the narrative significantly.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on the balance between digital subscription growth and advertising revenue stability.

Bull Confirmed If

Digital subscription growth of over 10% quarter-over-quarter would confirm the bull case.

Bear Confirmed If

A decline in advertising revenue compared to the previous quarter would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±15.76%

Historical Avg

±6.7%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings report.

Options are pricing ±15.8% while NYT has averaged ±6.7% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

33.5%

Calls (783K)P/C Ratio: 0.21Puts (1K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If NYT beats expectations, history suggests a potential stock increase of around 0.13%, confirming positive market sentiment.

In-Line / Cautious

If results are in line with expectations but management is cautious, the stock may experience muted movement as investors reassess.

Miss

If NYT misses expectations, history suggests a potential decline, with an average move of around -0.24% following misses.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on digital subscription growth rates.
2Details on advertising revenue performance and outlook.
3Any new initiatives or content strategies being implemented.
4Management's view on competitive pressures in the publishing industry.
5Insights into cost management and operating margins.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Key Metrics to Watch

Digital Subscription Growth

This metric indicates how well the company is attracting and retaining subscribers, which is vital for revenue.

Expected to show continued growth.

Advertising Revenue

Advertising is a significant part of NYT's revenue, and any changes can impact overall financial performance.

Expected to remain stable or show slight improvement.

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

NYT Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+12.80%

Avg Stock Reaction

+0.13%

Last Quarter Recap

In Q1-2026, The New York Times Company reported an earnings per share (EPS) of $0.61, exceeding estimates by 25.5%. The stock reacted positively, gaining 8.31% the following day.

Management Promises & Guidance

Continued focus on digital subscription growth.
Investment in new content and technology.
Commitment to maintaining advertising revenue.

Expectations

Wall Street Expectations

Overall, Wall Street expects The New York Times to continue its positive trajectory with strong digital subscription growth and stable advertising revenue.

Bull Case

If digital subscriptions grow significantly and advertising revenue improves, the stock could see a substantial increase.

Bear Case

If subscriber growth slows or advertising revenue declines, the stock may face downward pressure.

Key Metrics to Watch

Digital Subscription Growth

Expected to show continued growth.

This metric indicates how well the company is attracting and retaining subscribers, which is vital for revenue.

Advertising Revenue

Expected to remain stable or show slight improvement.

Advertising is a significant part of NYT's revenue, and any changes can impact overall financial performance.

Operating Margin

Expected to be in line with previous quarters.

This metric reflects the company's efficiency and profitability, which are critical for investor confidence.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the growth rate of digital subscriptions this quarter?

Subscriber growth is crucial for revenue stability and future projections, and any slowdown could raise concerns.

How did advertising revenue perform compared to last quarter?

Advertising revenue is a key indicator of market demand and can significantly impact overall financial health.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the resilience of NYT's digital subscription model, especially given recent trends in consumer media consumption.

Supporting Evidence

The company has consistently beaten EPS estimates, indicating stronger underlying performance.

Options pricing suggests a significant move, which may reflect investor uncertainty that could lead to an overreaction.

Historical trends show that NYT has a strong track record of subscriber retention, which may not be fully appreciated.

Key Risk

If digital subscriptions exceed growth expectations, it could shift the narrative significantly.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on the balance between digital subscription growth and advertising revenue stability.

Bull Confirmed If

Digital subscription growth of over 10% quarter-over-quarter would confirm the bull case.

Bear Confirmed If

A decline in advertising revenue compared to the previous quarter would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±15.76%

Historical Avg

±6.7%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings report.

Options are pricing ±15.8% while NYT has averaged ±6.7% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

33.5%

Calls (783K)P/C Ratio: 0.21Puts (1K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If NYT beats expectations, history suggests a potential stock increase of around 0.13%, confirming positive market sentiment.

In-Line / Cautious

If results are in line with expectations but management is cautious, the stock may experience muted movement as investors reassess.

Miss

If NYT misses expectations, history suggests a potential decline, with an average move of around -0.24% following misses.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on digital subscription growth rates.
2Details on advertising revenue performance and outlook.
3Any new initiatives or content strategies being implemented.
4Management's view on competitive pressures in the publishing industry.
5Insights into cost management and operating margins.