New York Times' profit falls as it makes strides in digital ads
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THE New York Times Co said its annual operating profit declined in 2014 because of investments in digital journalism and severance costs from a round of job reductions. Revenue was flat as growth in digital advertising and circulation offset declines in its print business.
Last year, the company posted an operating profit of US$92 million, down from US$156 million in 2013. During the fourth quarter of 2014, operating profit was US$62 million, compared with US$69 million during the final three months of 2013.
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