American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
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Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
China said on Saturday it strongly opposes Washington's decision to levy additional tariffs on $550 billion worth of Chinese goods and warned the United States of consequences...Politicsread more
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Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
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"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
The company also reported more than 3 million digital-only subscriptions and 4 million total subscriptions as of the end of the quarter.
Here's how the company did compared with what Wall Street expected:
The stock surged as much as 27 percent in the premarket but eased off a bit during the trading day. It ended trading 6.9 percent higher than Wednesday's closing price.
The company's 3 million-plus total digital subscriptions is an increase of 24 percent from the year-ago period. The digital subscriptions category includes subscriptions to the company's news content as well as stand-alone subscriptions to the daily crossword and to the company's cooking app.
Subscription revenue increased 4.5 percent year over year and accounted for nearly two-thirds of total revenue for the quarter, CEO Mark Thompson said in a statement. Advertising revenue grew 7.1 percent from a year earlier.
Other revenues — a catch-all category including printing operations and real estate rental income — grew 49.3 percent during the third quarter from the year-ago period.
The New York Times stock, though relatively volatile due to traditionally low trading volume, has been on something of a tear recently. Shares gained 24 percent in the last 30 days and more than 50 percent in the last 12 months.