Profits were $46.3m (£32m) or 30 cents a share, down from $63 (£43.5m) or 37 cents a share last time. Analyst forecasts were between 20 cents and 35 cents a share.
Third-quarter advertising fell 14.5% across the group as a result of tough market conditions and the affects of the terrorist attacks.
Third-quarter advertising revenues at the New York Times newspaper fell 14.4% to $236m (£162.9m). At its New England Newspapers division, home to the Boston Globe, third-quarter revenues fell 21.2% to $102m (£70.4m), while the Boston Globe itself saw revenues climb 5%.
The company said the decline in national ad revenues was largely down to softer technology, travel and e-commerce advertising.
Classified advertising revenues continues to be hurt by a decline in recruitment advertising. However, this was offset by an increase in property ads and automotive ads.
Shares in the New York Times Co climbed 0.5% to $42.21 (£29.10).
Last month, the New York Times Co followed Dow Jones, publisher of the Wall Street Journal, in issuing a warning that its results would be worse than expected.
If you have an opinion on this or any other issue raised on Brand
Republic, join the debate in the Forum here.
This article was first published on brandrepublic.com