New York Times posts 3Q profit

Markets Associated Press

The New York Times Co. (NYT) on Wednesday reported third-quarter net income of $32.3 million.

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On a per-share basis, the New York-based company said it had profit of 20 cents. Earnings, adjusted for non-recurring gains and to account for discontinued operations, came to 13 cents per share.

The newspaper publisher posted revenue of $385.6 million in the period.

New York Times shares have risen 44 percent since the beginning of the year. The stock has climbed 75 percent in the last 12 months.

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