The New York Times reported its Q4 financial results yesterday which showed advertising revenues have fallen by 21% year on year during the quarter. Profits declined by 46% and sales were down 17%, but the results were broadly in line with expectations, according ABN Amro analysts.
In terms of current trading, the company says that January is still showing declines, but they are less severe than during December. The outlook for 2002, according to ABN, is that earnings per share will show 5-10% growth, assuming that advertising recovers in the second half.
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