JPMorgan analyst Alexia Quadrani notes that New York Times reported Q3 earnings with revenue, adjusted operating profit, and EPS all ahead of consensus and her estimates. Most notably, the analyst pointed out that digital subscriber net adds in the quarter were 203k compared to her 130k estimate, with the core news product adding 143k and digital other adding 60k. The 143k net adds for news compares to 68k in Q2, and is the best quarter for the company since the Trump bump driven Q1 of 2017, Quadrani contended. Overall, the analyst is "extremely encouraged" by these results and sees momentum continuing on digital subscriber additions helped by the current elevated news cycle and the midterm elections. Quadrani has an Outperform rating on the shares.