![]() ![]() For the full year 2020, net income was $100.1 million, or $0.60 diluted earnings per share, compared to $140.0 million, or $0.84 diluted earnings per share.For the fourth quarter, total net income was $10 million, or $0.06 diluted earnings per share, compared to $68.2 million, or $0.41 diluted earnings per share in Q4 2019.Product development costs increased 23.2% as The Times focused on developing more digital products as part of its digital subscription strategic initiatives.Sales and marketing costs decreased 8.9% due to lower costs from advertising sales, and media expenses decreased 4.7%.Subscription revenue increases in Q4 2020 were led by the company’s digital-only subscription products including Games (previously called Crossword), Cooking and The Time’s audio products.
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