Why Shares of The New York Times Fell Wednesday
Shares of The New York Times (NYSE: NYT) slipped on Wednesday, declining as much as 10.2%. As of 11:35 a.m. EST, however, this loss improved to a 4.5% decline.
The stock's pullback on Wednesday followed the company's third-quarter update. While adjusted earnings per share for the period beat analyst estimates, revenue was slightly below the consensus forecast. In addition, the company said it continues to expect challenges in digital advertising in the second half of the year.
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Source Fool.com
