The New York Times Company (NYSE:NYT) reported strong financial results for 2025 on Wednesday, driven by growth in digital subscriptions, rising digital advertising revenue, and expanding profit margins, highlighting the company’s multi-revenue stream strategy.

Total revenue for the year increased approximately 9%, with digital revenues outpacing declines in print, the company said. Digital subscription revenue rose roughly 14%, supported by 1.4 million net new digital subscribers, bringing the total to 12.8 million.

Digital advertising revenue jumped 20% for the year, with fourth-quarter digital ad revenue up 25% to $147 million, exceeding guidance.

In the fourth quarter alone, the Times added 450,000 digital subscribers, with the average revenue per user for digital-only subscriptions rising to $9.72 as many subscribers moved from promotional pricing to higher tiers.

Looking ahead, the company expects first-quarter 2026 digital-only subscription revenue to grow 14% to 17%, and total subscription revenue to rise 9% to 11%. Digital advertising revenue is projected to increase in the high teens to low 20s percentage range, while total advertising revenue is expected to grow in the low double digits. Adjusted operating costs for Q1 are forecast to rise 8% to 9%, reflecting ongoing investment in video journalism and digital product offerings.

Shares of The New York Times were down 10.8% in Wednesday morning trading.

The report comes as a major shakeup hit a rival, The Washington Post, which announced cuts affecting roughly one-third of its staff. More than 300 employees were laid off, with the sports and books sections eliminated and several international bureaus scaled back. The restructuring aims to reduce losses under owner Jeff Bezos by focusing resources on national news, politics, business, and health amid declining subscriptions.