New York Times beats on revenue and profit

(Reuters) - The New York Times Co reported better-than-expected quarterly revenue and profit on Thursday as advertising sales improved and more people paid for its flagship newspaper.

The company, which publishes The New York Times, said fourth quarter revenue fell 5.2 percent to $443.9 million (272.2 million pounds), beating analysts' estimates for $441 million, according to Thomson Reuters I/B/E/S.

Excluding an extra week in the same period last year, total revenue inched up 0.4 percent. Print and digital advertising revenue decreased 1.6 percent and 0.2 percent respectively.

The company said it expects advertising revenue to trend at the same level this quarter as in the fourth quarter.

The New York Times had been particularly hit by changing trends in digital advertising - once a bright spot - as advertising exchanges drove the price of ads down. But it improved from the third quarter, when digital advertising revenue fell 3.4 percent.

Subscription revenue, an important source of revenue for the New York Times since it rolled out a digital pay model almost three years ago, grew 2.7 percent to $207.6 million.

Revenue from digital-only subscription packages increased 13.7 percent to $39.1 million.

Net income from continuing operations fell to $38.6 million, or 24 cents per share, from $118 million, or 76 cents per share, in the same period a year earlier.

Excluding special items, earnings per share were 26 cents compared with analysts' forecast of 16 cents.

(Reporting by Jennifer Saba in New York; Editing by Bernadette Baum)