Business

The New York Times now has 4 million subscribers

Posted November 1, 2018 9:10 a.m. EDT

— The New York Times now has more than four million subscribers.

The newspaper announced the milestone Thursday along with its third quarter earnings results. It says about 3 million of those subscribers only receive the digital edition.

"We're investing aggressively in our journalism, product and marketing and are seeing tangible results in our digital growth," said Mark Thompson, president and CEO of The New York Times Company (NYT), in an earnings release.

The Times added 203,000 total net digital subscriptions in the most recent quarter — its highest since the first quarter of 2017, when the paper racked up 308,000 net digital subscribers. At that time, the paper's editors and executives cited curiosity and concern about the Trump administration as one of the reasons for the subscriber gains.

Most of the new subscribers last quarter signed up for news from The Times. About 60,000 subscribed to the company's cooking and crossword sections.

The subscriber growth is also driving bigger profits. The company said operating profit rose to $41.4 million last quarter, compared to $31.8 million during the same period a year before. It attributed that growth to digital subscriptions and advertising.

Shares of The Times stock were trading about flat before market open Thursday.