Total revenues dropped 4.9% to $747.9m in the first quarter from $786m a year ago.
This was affected by a 10.6% decrease in ad revenues within the company's news media division, which it attributed to a decline in print advertising in titles such as The New York Times newspaper.
The loss in print ad revenues was partially offset by a 16% increase in online ad revenues during the quarter.
In total, the company's digital assets, including , and , accounted for 11.1% of the group's revenues during the period.
Janet Robinson, president and chief executive of the New York Times company, said: "Advertising revenues decreased in the quarter as weaker economic conditions compounded the effects of secular change in our business.
"While this is a challenging time for the media industry, we are diligently managing our business for the long term. During the balance of the year, we plan to stay focused on what we do best -- producing high-quality journalism, introducing new products in print and online, and stringently managing our costs."
The disappointing results come as the New York Times Co. looks to cut 100 newsroom positions at the paper. The company said in February that it would need to shed the jobs in the face of a weaker economy and an overall fall in print advertising and circulation revenues.
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