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New York Times expects coronavirus to take a toll on digital ad sales

Reuters
·1-min read
FILE PHOTO: A taxi passes by in front of The New York Times head office in New York

(Reuters) - The New York Times Co <NYT.N> said on Monday it expects digital ad sales to decline 10% in the current quarter due to uncertainty and anxiety about the coronavirus outbreak.

The Times, which has seen a decline in digital ad revenue for three straight quarters, had earlier forecast revenue from the business to decrease in the mid-single digits.

Chief Executive Officer Mark Thompson said it has so far not seen any adverse impact on its subscription growth or on the expected rise in subscription revenue.

The publisher reported digital ad revenue of $92.2 million in its fourth quarter, accounting for more than half of the total advertising revenue.

(Reporting by Amal S in Bengaluru; Editing by Arun Koyyur)