Why The New York Times (NYT) Stock Is Nosediving

What Happened?

Shares of newspaper and digital media company The New York Times (NYSE:NYT) fell 8.6% in the afternoon session after its fourth-quarter 2025 earnings report revealed a mixed performance, where misses on key profitability and subscriber metrics overshadowed a revenue beat. 

The media company reported revenue of $802.3 million, topping Wall Street's estimates, while its adjusted earnings per share of $0.89 were in line with expectations. However, this was offset by weaker-than-expected adjusted EBITDA, which fell short of analyst forecasts. Furthermore, the company's subscriber growth did not meet expectations, raising concerns about its monetization strategy. These misses signaled potential challenges ahead, leading investors to focus on the negatives in what was ultimately considered a weaker quarter for the company.

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What Is The Market Telling Us

The New York Times’s shares are not very volatile and have only had 4 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.

The biggest move we wrote about over the last year was 6 months ago when the stock gained 15.2% on the news that the company reported strong second-quarter financial results that surpassed Wall Street expectations and provided an optimistic forecast for future growth. 

The media company posted revenue of $685.9 million, a nearly 10% jump from the previous year. Adjusted earnings reached $0.58 per share, which beat analysts' projections. This performance stemmed from solid growth in its digital business, where it added approximately 230,000 new digital-only subscribers. Looking ahead, the publisher also forecasted third-quarter subscription revenue growth above market estimates. Management credited this positive outlook to the strength of its bundled offerings, which combined its core news with popular products like The Athletic and Wordle.

The New York Times is down 4.5% since the beginning of the year, and at $66.69 per share, it is trading 9.5% below its 52-week high of $73.70 from February 2026. Investors who bought $1,000 worth of The New York Times’s shares 5 years ago would now be looking at an investment worth $1,290.

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