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July 27 (Reuters) - The New York Times Co reported a better-than-expected quarterly profit on Thursday as the newspaper publisher signed up more digital subscribers, making up for falling print sales.
The company said it had 2.3 million paid digital-only subscriptions at the end of the second quarter ended June 25, soaring 63.4 percent from a year earlier.
The Times has tried to boost digital revenue by offering discounts to attract paying subscribers to its online edition as well as to non-news offerings such as daily crossword puzzles and cooking recipes.
Some of the recent growth in the Times' subscriptions has come from the so-called "Trump bump," the effect of U.S. President Donald Trump's attacks on the newspaper.
The Times said digital advertising revenue, which now makes up nearly 42 percent of its total advertising revenue, rose 22.5 percent to $55.2 million in the quarter.
The paper's print advertising revenue continued to fall, declining 10.5 percent to $77.1 million, as the print medium attracts fewer paying readers with more people getting their daily news fix online.
The Times reported a profit of $15.6 million compared to a loss of $211,000, a year earlier.
On a per-share basis, the company earned 9 cents per share in the latest quarter. Excluding one-time items, it earned 18 cents per share from continuing operations, beating analysts' average estimate of 14 cents, according to Thomson Reuters I/B/E/S.
Revenue rose for the second straight quarter, increasing 9.2 percent to $407.1 million. Analysts on average had expected $393.9 million. (Reporting by Laharee Chatterjee in Bengaluru; Editing by Sai Sachin Ravikumar)