New York Times beats profit forecast; shares rise

Thu, 04/19/2012 - 10:27 EDT - Yahoo! Business News

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(Reuters) - New York Times Co reported a better-than-expected profit on Thursday as investors brushed past the company's drop in print and digital advertising revenue and focused more on the company's ability to manage costs. Its shares rose 4.7 percent to $6.42 in morning trading. Evercore Partners analysts Doug Arthur said that with $431 million of cash, the New York Times should initiate a dividend. "They have to be the only company with this much cash not paying a dividend," he said. The New York Times suspended its dividend in 2009. ...

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New York Times beats profit forecast; shares rise

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