NYT — what changed in the latest 10-Q
A section-by-section comparison of NYT's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-06 vs the prior 10-Q · 2025-11-05
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +56 | −72 | ~20 | 30 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | +2 | −1 | ~1 | 0 |
| Legal proceedings | Text added/removed | +2 | 0 | ~2 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~2 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-06
In the third quarter of 2025, the Company updated its internal reporting to reflect how the Company’s President and Chief Executive Officer (who is the Company’s Chief Operating Decision Maker) manages the business, and, as a result, the Company has determined it has one reportable segment and one r…
•Total revenues increased 12.0% to $712.2 million in the first quarter of 2026 from $635.9 million in the first quarter of 2025.
•Total subscription revenues increased 11.3% to $516.9 million in the first quarter of 2026 from $464.3 million in the first quarter of 2025. Digital-only subscription revenues increased 16.1% to $389.0 million in the first quarter of 2026 from $335.0 million in the first quarter of 2025. The Compan…
•Total advertising revenues increased 17.3% to $126.8 million in the first quarter of 2026 from $108.1 million in the first quarter of 2025, due to an increase in digital advertising revenues of 31.6% to $93.3 million.
•Affiliate, licensing and other revenues increased 7.8% to $68.5 million in the first quarter of 2026 from $63.6 million in the first quarter of 2025, as a result of higher licensing revenues.
Text removed vs the prior filing · source: 10-Q · 2025-11-05
There was one fewer day in the first nine months of 2025 compared with the first nine months of 2024 as a result of 2024 being a leap year.
In the third quarter of 2025, the Company updated its internal reporting to reflect how the Company’s President and Chief Executive Officer, (who is the Company’s Chief Operating Decision Maker (“CODM”)) manages the business, and as a result, the Company has determined it has one reportable segment …
•The Company added approximately 460,000 net digital-only subscribers compared with the end of the second quarter of 2025, driven largely by other single products subscriber additions as well as bundle and multiproduct subscriber additions. The Company ended the third quarter of 2025 with approximat…
•Total digital-only average revenue per user (“ARPU”) increased 3.6% year-over-year to $9.79 driven primarily by subscribers transitioning from promotional to higher prices and price increases on certain tenured subscribers.
•Operating profit increased 36.6% to $104.8 million in the third quarter of 2025 from $76.7 million in the third quarter of 2024. Adjusted operating profit (“AOP”), defined as operating profit before depreciation, amortization, severance, multiemployer pension plan withdrawal costs and special items…
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-05-06
During the fourth quarter of 2025, we implemented a new cloud-based procure-to-pay system. In connection with this implementation, we updated the design and documentation of our internal control processes and procedures relating to the new system in the first quarter of 2026.
There were no other changes in our internal control over financial reporting during the quarter ended March 31, 2026, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Text removed vs the prior filing · source: 10-Q · 2025-11-05
There were no changes in our internal control over financial reporting during the quarter ended September 30, 2025, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Legal proceedings
Text added vs the prior filing · source: 10-Q · 2026-05-06
On December 5, 2025, we filed a lawsuit against Perplexity AI, Inc. (“Perplexity”) in the SDNY, alleging copyright infringement, trademark dilution and trademark infringement, related to Perplexity’s unlawful and unauthorized copying and use of our journalism and other content. We are seeking moneta…
See Note 14 of the Notes to the Condensed Consolidated Financial Statements for additional information.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice