The New York Times Company reported an 11.2 percent increase in total revenue for the quarter ending in June, driven by growth in digital subscriptions and advertising. The company added 280,000 digital-only subscribers during the period, bringing the total to 13.35 million and maintaining its trajectory toward a goal of 15 million subscribers by the end of 2027.

Revenue for the quarter reached $762.5 million, while adjusted operating profit rose 16.1 percent to $155.3 million. Digital-only subscription revenue rose 16.4 percent year-over-year to $407.9 million, and digital advertising revenue increased 20.7 percent to $114 million. Earnings reflect the company’s ongoing focus on expanding its digital offerings, including bundled packages that provide access to The Times’s news content alongside its affiliate products such as Wirecutter, Cooking, Games, and The Athletic.

Despite revenue gains, subscriber growth slowed compared to earlier in the year, with the latest quarter’s net additions falling short of the 310,000 new subscribers added in the first quarter. Average revenue per digital-only user increased 3.1 percent to $9.94. Print subscriptions continued their decline, dropping to about 550,000 from 580,000 in the same quarter last year, underscoring the company’s shift toward predominantly digital readership.

Operating costs increased 10 percent year-over-year to $607.2 million, slightly above company expectations. The rise was attributed to higher expenses related to compensation, benefits, and marketing efforts. Chief Financial Officer Will Bardeen indicated on an earnings call that adjusted operating costs are forecasted to rise between 8 and 9 percent in the third quarter, which he described as part of “disciplined investments” in journalism and digital product development, particularly in video content.

Revenue from affiliate, licensing, and other sources climbed 7.1 percent to $75.5 million, largely due to increased referral revenue from Wirecutter. Digital-only subscribers, encompassing those who purchase individual Times products or bundled packages, now represent the vast majority of the company’s subscriber base, with approximately 12.8 million out of 13.35 million total subscriptions.

Looking ahead, The New York Times projects digital-only subscription revenue to grow between 12 and 15 percent in the third quarter, alongside a mid-to-high teens increase in digital advertising revenue. Chief Executive Meredith Kopit Levien emphasized the company’s belief in the continued value and resilience of its business model, pointing to the distinctiveness and strength of its products as key drivers of its financial performance.