New York Times shows a slight profit
The New York Times Company on Thursday reported second-quarter net income of $39.1 million, up from $21.1 million in the period a year earlier, as another steep drop in advertising revenue was largely offset by aggressive cost-cutting.
A favorable tax adjustment inflated the earnings in the most recent quarter. But even discounting that factor, Thursday’s results marked a return to profitability  albeit slight  after a first-quarter loss of $74.5 million.
