Why The New York Times Stock Just Jumped 9%

Why The New York Times Stock Just Jumped 9%

Shares of The New York Times (NYSE: NYT) are up 9% in 12:55 p.m. EDT trading Wednesday after the Gray Lady reported significantly better second-quarter 2021 results than Wall Street had been expecting. For Q2, analysts had forecast The New York Times would earn $0.27 per share on $487.7 million in sales. When subjected to the rigors of generally accepted accounting principles (GAAP), of course, NYT's earnings weren't quite that strong.