Business

New York Times Co. narrows second-quarter loss, stock surges

The New York Times Co., owner of The Boston Globe, Boston.com, and BostonGlobe.com, said Thursday that second-quarter revenue edged up 0.6 percent to $515.2 million as its net loss narrowed to $88.1 million from $119.7 million a year earlier. The loss was driven by a $194.7 million noncash charge for About Group, one of the company’s digital properties.

The company’s stock rose 10.6 percent to $7.80, the biggest one-day gain since Oct. 6. The shares were down 8.8 percent this year through Wednesday.

New England Media Group, a division that includes the Globe and Boston.com, had revenue of $101.9 million, down 0.5 percent from a year before. Advertising revenue for the division fell 5.3 percent to $49.1 million.

Advertisement

The Globe had about 23,000 digital-only subscribers at of the end of the quarter, up 28 percent from March 18. (Daily and Sunday subscribers to the Globe get full access to BostonGlobe.com.) The Times and the International Herald Tribune had about 509,000 digital subscribers at the end of the quarter, up 12 percent from March 18.

Get Talking Points in your inbox:
An afternoon recap of the day’s most important business news, delivered weekdays.
Thank you for signing up! Sign up for more newsletters here

During the quarter, the company sold its remaining interest in Fenway Sports Group, which includes the Boston Red Sox, for $63 ­million.

Chris Reidy