The New York Times, the newspaper publisher betting its future on a shift toward digital subscriptions, posted lower sales last quarter as it failed to attract enough readers to make up for a steeper ad decline.
Advertising dropped more than 11 percent to $191.2 million in the first quarter, while subscription sales rose 6.5 percent to $241.8 million, the company said.
Total revenue fell 2 percent from a year earlier to $465.9 million, missing analysts’ estimates of $470.5 million...
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