New York Times reports lower revenue on ad slide

(REUTERS) - New York Times reported a decline in quarterly revenue as advertisers pulled back their spending.

First-quarter revenue fell 2 per cent to US$465.9 million (S$577 million), below analysts' expectations of US$470.5 million, according to Thomson Reuters I/B/E/S.

The company reported on Thursday earnings per share from continuing operations of 2 US cents compared with 6 US cents in the same period last year.