The New York Times title is expected to reach its highest level in the last 12 years

President Donald Trump calls this the "New York Times bankrupt," but Thursday's financial results for the third quarter suggest the opposite.

Shares of the New York Times Company

NYT + 7.88%

grew by 6.1% after exceeding the third quarter earnings guidance, which allowed them to achieve a significantly higher pre – market value and keep them on track. a 12-year high.

Earnings for the last quarter fell to $ 25 million, or 15 cents a share, from $ 32.3 million, or 20 cents a share, in the same quarter of the previous year. But the Times is still well above the consensus; Adjusted EPS was 15 cents a share, while the FactSet consensus was 12 cents a share.

Revenues totaled $ 417.3 million, exceeding FactSet's consensus of $ 410 million, up from $ 385.6 million a year ago. Subscription revenues increased 4.5% to $ 257.7 million from $ 246.6 million a year ago, primarily due to the growth in the number of subscriptions to digital-only society. Revenues from all-digital subscriptions increased 18.1% to $ 101.2 million from $ 85.7 million a year ago, driven by a 24% increase in digital subscriptions. this number was 3.1 million, compared with 2.5 million a year earlier.

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Advertising revenues, including both digital and print advertising, also increased. Advertising revenue for the third quarter was $ 121.7 million, up 7.1% from $ 113.6 million a year ago. And while print ad sales declined 0.7%, digital ad sales increased 17.3%.

Reflecting a trend toward growth in its digital products, the Times said it expects a decline in subscription revenues and advertising in the fourth quarter, while waiting for the digital-specific revenue continue to increase.

The Times shares have gained 43% since the beginning of the year, while the S & P 500

SPX, + 0.64%

gained 1.4%. Newspapers face a growing challenge for businesses as Americans consume more and more of their information online. News organizations have struggled to adapt, even though they are turning to Internet-based revenue sources, such as subscriptions and online advertising.

Despite the best efforts in the sector, advertising revenues have been declining for more than 10 years, down 67% between 2005 and 2017, from $ 49.4 billion to $ 16.5 billion, according to data from an analysis conducted by the Pew Research Center in 2018.

It is estimated that weekday newspaper circulation in both digital and print formats decreased by 42% over the same period, from 53.3 million to 30.9 million.

Competitor of Gannett Co. Inc.

GCI + 2.84%

stock fell 14.2% in 2018, Tribune Publishing Co.

TPCO, + 1.06%

fell 13.3% and News Corp.

NWSA, -0.87%

which holds the Wall Street Journal, MarketWatch and Barron's titles, dropped by 19%.