The New York Times Company NYT is likely to register an increase in the top line, when it reports first-quarter 2021 numbers on May 5, before the market opens. The Zacks Consensus Estimate for revenues is pegged at $466.2 million, indicating an improvement of 5.1% from the prior-year reported figure.However, the bottom line of this diversified media conglomerate is expected to decline year over year. The Zacks Consensus Estimate for earnings for the quarter under review has been stable at 15 cents over the past 30 days. The figure suggests a decline from 17 cents reported in the year-ago quarter.Notably, the company has a trailing four-quarter earnings surprise of 85%, on average. In the last reported quarter, the company’s bottom line outperformed the Zacks Consensus Estimate by a margin of 2.6%.Factors to NoteThe New York Times Company has been utilizing technological advancements to reach their target audience more effectively. The company’s business model with greater emphasis on subscription revenues positions it to mitigate the impact of the ongoing pandemic to an extent. On its last earnings call, management guided about 15% increase in total subscription revenues and a surge of approximately 35-40% in digital-only subscription revenues for the first quarter of 2021.However, declining print readership and soft advertising revenues have been a concern for a while now. Management had cautioned about sharp fall in advertising revenues in the first quarter of 2021. The company had forecast high-teens decline in total advertising revenues for the first quarter. Nonetheless, the company has been making concerted efforts to lower dependency on traditional advertising and focus on digitization. It has been diversifying business, adding new revenue streams, and streamlining operations to increase efficiencies. The company has not only been gearing up to become an optimum destination for news and information but has also been focusing on lifestyle products and services. Management had projected low- to mid-single digit increase in digital advertising revenues for the first quarter.Additionally, management anticipated adjusted operating costs to increase in the mid-single digits in the first quarter of 2021, as the company continues to invest in the drivers of digital subscription growth. This is likely to get reflected in the to-be-reported quarter’s bottom line. The New York Times Company Price, Consensus and EPS Surprise The New York Times Company price-consensus-eps-surprise-chart | The New York Times Company QuoteWhat the Zacks Model UnveilsOur proven model does not conclusively predict an earnings beat for The New York Times Company this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.Although The New York Times Company carries a Zacks Rank #3, it has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Stocks With Favorable CombinationHere are companies you may want to consider as our model shows that these have the right combination of elements to post an earnings beat:Fox Corporation FOXA has an Earnings ESP of +13.40% and a Zacks Rank of #1. You can see the complete list of today’s Zacks #1 Rank stocks here.Rackspace Technology RXT has an Earnings ESP of +2.27% and a Zacks Rank #3.The Walt Disney Company DIS has an Earnings ESP of +46.11% and a Zacks Rank of #3.Breakout Biotech Stocks with Triple-Digit Profit PotentialThe biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Fox Corporation (FOXA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research