President Donald Trump was hit with a fact-check on Sunday after declaring that The New York Times was “losing a fortune” and would soon be “out of business.” Trump tweeted that the Times ― his hometown’s paper of record and one of his favorite media targets ― had “zero credibility” and would fold “soon after I leave office.” He went on to say that he was “fairly certain” that the paper would endorse him for the 2020 presidential election “just to keep it all going.”

The New York Times will be out of business soon after I leave office, hopefully in 6 years. They have Zero credibility and are losing a fortune, even now, especially after their massive unfunded liability. I’m fairly certain they’ll endorse me just to keep it all going! — Donald J. Trump (@realDonaldTrump) August 18, 2019

Minutes later, Peter Baker, the chief White House correspondent for the Times, tweeted this fact-check:

Fact check: Revenues up, subscriptions at a record high, profits at $37.9 million in the second quarter. https://t.co/ZqWCIsu4Zu — Peter Baker (@peterbakernyt) August 19, 2019

Earlier this month, the Times reported a 5.2% increase in total revenue to $436.3 million in the second quarter of 2019 compared with the year earlier. The company also reported a $37.9 million operating profit in the quarter ― a dip from the year before, which the company attributed to investment in subscriber growth. CEO and president Mark Thompson said in a statement that the Times had enjoyed “another strong quarter in digital subscription growth and we’re making steady progress toward our goal of reaching 10 million total subscriptions by 2025.” Thompson said the company had added almost 200,000 new digital-only subscriptions in the second quarter. All told, the paper has 4.7 million total subscriptions, he said. Hours before his claim about the paper’s dwindling fortunes, Trump accused the “failing New York Times” of practicing “crooked” journalism and of going on a “Racism Witch Hunt” against him.

The Failing New York Times, in one of the most devastating portrayals of bad journalism in history, got caught by a leaker that they are shifting from their Phony Russian Collusion Narrative (the Mueller Report & his testimony were a total disaster), to a Racism Witch Hunt..... — Donald J. Trump (@realDonaldTrump) August 18, 2019

.....”Journalism” has reached a new low in the history of our Country. It is nothing more than an evil propaganda machine for the Democrat Party. The reporting is so false, biased and evil that it has now become a very sick joke...But the public is aware! #CROOKEDJOURNALISM — Donald J. Trump (@realDonaldTrump) August 18, 2019

With all that this Administration has accomplished, think what my Poll Numbers would be if we had an honest Media, which we do not! — Donald J. Trump (@realDonaldTrump) August 18, 2019