Thursday saw New York Times Co in an upbeat mood with its stock closing at $13.39, after having attained an intra-day high of $13.74.

The stock on Wednesday had closed at $12.81. According to Analysts Ratings Network reports, the company's announcement of better than expected quarterly earnings on Thursday pushed up the share prices by 4.5%.

The New York Times Company is an American media company and an umbrella organization that owns The New York Times, International New York Times, NYTimes. com, International. nytimes. com and related businesses such as The Times news services division. The chief area of operation of the company includes creating, collecting and distributing news and information through newspapers and digital offerings.

The Newspaper publisher reported an increase in the adjusted operating profit in the first quarter, standing at $59.2 million from $56.6 million the previous year. Amid declining print ad sales, this 4.6% increase was chiefly attributable to the company's cost-cutting techniques.

Further, the company posted $0.11 earnings per share for the present quarter, refuting the analysts' consensus estimate of $0.08 by $0.03 and also the last year $0.07 earnings per share. However, the revenue fell to $384.2 million from $390.4 million, down 1.6% from last year.

In October last, the company held that it would engage in cost-cutting by shutting down NYT Opinion, its mobile app to make up for the failure of its new digital products. Its shot at creating diversified digital platforms has left a mixed taste in the mouth. Readers have been increasingly drifting towards the web, resulting in falling advertising revenue for the company. The company also plans retrenchment by cutting about 7.5% of its newsroom positions.

On a negative note, on Wednesday, analysts at Zacks downgraded the company's rating from an "outperform" to "neutral", signaling the management to take notice.