The New York Times Company posted a $14 million net loss for the first quarter of 2015, driven by a pension settlement charge and a drop in lucrative print advertising. But digital subscriptions continued to show solid growth, the company said on Thursday, and digital advertising grew at a double-digit pace.

Adjusted operating profit grew to about $59 million, from about $57 million in the same quarter last year. Cost reductions helped to offset a drop in revenue.

In its quarterly earnings, the Times Company said it added 47,000 new digital subscribers, for a total of about 957,000, a 20 percent increase from the first quarter of 2014. It was the strongest quarter for these subscriptions since the fourth quarter of 2012. Digital subscriptions were responsible for $46 million in revenue in the quarter, up 14 percent from the same quarter last year.

Total revenue decreased 1.6 percent, to $384 million. Circulation revenue increased by about 1 percent, as an increase in home delivery price helped offset a decline in print copies sold.