The New York Times Co. today reported a $12.4M Q3 net loss, down 48.8 percent from last year's $24.2M deficit. Revenues inched ahead 0.8 percent to $364.7M.

CEO Mark Thompson said the company performed better than what it had expected due to "broad digital strength that more than offset print revenues declines."

The Times added 44K digital subscribers, up 20 percent to rank as the best quarterly result in two years. It ended the quarter with 875K digital subs.

The company took an $8.3M charge for lower anticipated returns on pension assets and outlays connected with multiemployer pension plan withdrawal obligations.

The Times has $966M in cash/marketable securities and total debt/lease obligations of $669M.

Thompson expects Q4 circulation gains of about one percent and ad revenues to drop in the mid-single digit range.

He's focused on audience development with the "goal of extending our already broad reach and deepening the engagement of our readers."

Thompson expects momentum from growth of NYT's Paid Posts native advertising initiatives and investments made in video and the smartphone platform.