Summary Box: New York Times Co. posts 3Q profit

TIMES PROFITABLE: The New York Times Co. turned a profit in the third quarter, helped by reduced costs and higher circulation revenue that offset a decline in advertising. It booked a loss a year earlier.

AD SLUMP: Advertising revenue, which includes the companies’ newspapers, and other Web properties, fell nearly 9 percent. Ad revenue at the newspaper properties fell 7 percent, hurt by a 10 percent drop in print ad revenue.

COST CUTS HELP: Total operating expenses fell 4 percent during the quarter to $504 million. Benchmark analyst Edward Atorino called the cuts “surprisingly big.”