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New York Times Sees Profit Drop Following Layoffs, Greater Spending On Digital

02/03/2015 09:02 am ET | Updated Apr 05, 2015
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Feb 3 (Reuters) - New York Times Co reported a 9.6 percent drop in quarterly net profit due to costs related to job cuts and increased spending on its digital offerings.

The company's net income attributable to shareholders from continuing operations fell to $35 million, or 22 cents per share, in the fourth quarter from $38.7 million, or 24 cents per share, a year earlier.

Operating costs rose 2.8 percent to $382.3 million. Revenue rose marginally to $444.7 million from $443.9 million. (Reporting by Abhirup Roy in Bengaluru; Editing by Ted Kerr)

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