The U.S. newspaper publishing industry has been grappling with declining print readership and advertising revenues for quite some time now. Nevertheless, the industry participants are evolving from being just pure news-content providers and advertisement platforms. In this regard, The New York Times Company NYT has done a commendable job.
Rapid digitization in the core areas of advertising, subscriptions and sales, printing, and distribution services has turned out to be a major source of revenues. Notably, this Zacks Rank #1 (Strong Buy) stock has surged 49.3% in the past six months, outperforming the industry’s rally of 25.9% and the S&P 500’s growth of approximately 15.9%. You can see the complete list of today’s Zacks #1 Rank stocks here.