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Amid the media doom and gloom, the Gray Lady (or maybe its cooking app) is thriving

Poynter · Angela Fu · last updated

New York Times stock hit an all-time high Wednesday after the company announced that it had enjoyed a strong second quarter, growing all of its major revenue streams.

Times stock was trading at $61.95 a share Wednesday afternoon, up 15.5% from the previous day’s close. Earlier in the day, the Times announced it had ended the second quarter with an adjusted operating profit of $133.8 million. That profit marks a 27.8% increase from the same period last year.

The Times also grew its subscriber base by roughly 230,000 to 11.88 million last quarter. More than half of those are “bundle subscribers” — a milestone for the Times, which has been trying to increase the number of its users who are subscribed to more than one of its products since those users tend to pay more and remain loyal.

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