The New York Times said Wednesday that profits slipped in the third quarter as declines in advertising revenues offset gains in its digital subscription efforts.
The prestigious US daily said it now has more than four million "digital only" subscribers and a total subscriber base of 4.9 million, with 500,000 outside the United States.
Net profit for the quarter slid 34 percent from a year ago to $16.4 million, while total revenues rose 2.7 percent to $429 million.
But while the Times increased revenue from its subscriber base, ad revenues were down for both print and digital.
Overall ad revenue declined 6.7 percent from a year ago, including a 7.9 percent from print and 5.4 percent drop in digital.
"Like other publishers, we're seeing continued turbulence in the digital advertising space," said Mark Thompson, president and chief executive officer of the New York Times Co.
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