(Reuters) -The New York Times Co beat quarterly revenue estimates on Wednesday as more people subscribed to the newspaper to read about the U.S. midterm elections, offsetting weak digital ad sales.
The company has in the past few years embarked on an aggressive bundling push, combining its core news reports with digital content ranging from podcasts to cooking recipes and games in hopes of getting more revenue from readers.
The move has also seen the company purchase word game Wordle and sports news site The Athletic as it tries to meet a goal of 15 million subscribers by 2027.
The Times added 240,000 digital-only subscribers in the reported quarter, compared with 180,000 additions in the third quarter.
The publisher reported revenue of $667.5 million in the fourth quarter, compared with analysts’ estimates of $646.4 million, according to Refinitiv data.
(Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Shounak Dasgupta)
