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(Recasts paragraph 1, updates share movement)
Aug 7 (Reuters) - The New York Times Co missed Wall Street estimates for revenue on Wednesday and signaled weakness in digital advertising for the rest of the year, sending its shares down 15%.
"We expect the second half of 2019 to be somewhat more challenging for digital advertising than the first half, with this year's revenue coming against our large gains in the third and fourth quarters of 2018," Chief Executive Officer Mark Thompson said in a statement.
The outlook overshadowed a better-than-expected second-quarter profit, which was helped by higher digital subscribers amid a drop in revenue from print advertising.
The Times said it added 197,000 digital-only subscribers in the quarter, pushing total subscriptions to 3.78 million. Its digital advertising revenue rose about 14%.
Online subscriptions have become crucial for the Times as more companies increasingly shift their ad dollars away from print to digital platforms such as Alphabet Inc's Google and Facebook Inc.
Total revenue rose to $436.3 million from $414.6 million a year earlier, missing analysts' average estimate of $438.7 million, according to IBES data from Refinitiv.
Print advertising revenue fell 8% in the quarter.
Excluding items, the company earned 17 cents per share, compared with expectations of 15 cents.
Net income attributable to shareholders rose to $25.2 million, or 15 cents per share, in the quarter, from $23.6 million, or 14 cents per share, a year earlier. (Reporting by Munsif Vengattil and Supantha Mukherjee in Bengaluru Editing by Saumyadeb Chakrabarty, Bernard Orr)