Stock Story -
Newspaper and digital media company The New York Times (NYSE:NYT) will be reporting earnings tomorrow before the bell. Here's what to look for.
The New York Times met analysts' revenue expectations last quarter, reporting revenues of $594 million, up 5.9% year on year. It was a strong quarter for the company, with an impressive beat of analysts' earnings estimates.
Is The New York Times a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting The New York Times's revenue to grow 5.8% year on year to $625.2 million, in line with the 6.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.41 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. The New York Times has missed Wall Street's revenue estimates three times over the last two years.
Looking at The New York Times's peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Scholastic's revenues decreased 10.1% year on year, missing analysts' expectations by 14%, and Rush Street Interactive reported revenues up 33.5%, topping estimates by 9.4%. Scholastic traded down 19.9% following the results while Rush Street Interactive was up 7.9%.
Read the full analysis of Scholastic's and Rush Street Interactive's results on StockStory.
Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices flat over the last month. The New York Times is down 1.8% during the same time and is heading into earnings with an average analyst price target of $51.1 (compared to the current share price of $51.1).
![The New York Times Earnings: What To Look For From NYT](https://d68-invdn-com.investing.com/content/picd30c497b0534a3d69c31fc96c728f3fe.jpeg)