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The New York Times (NYT +6.7%) surges following its Q1 earnings beat, which suggests...

The New York Times (NYT +6.7%) surges following its Q1 earnings beat, which suggests restructuring efforts are bearing fruit. The rally comes even though the Times reported a 2.3% drop in digital ad revenue, as its paywall takes a toll on pageviews. Paid digital subscriptions totaled 472K as of March 18, up from 406K at the end of Q4, and the Times is trying to further boost subscriptions by reducing free access.
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