New York Times CEO: 'Trump bump' has faded, growth will continue long after his presidency ends

President Donald Trump isn't having much of an impact on The New York Times' growth, CEO Mark Thompson told CNBC on Thursday.

The paper is a frequent target of the president, who has called it "fake news."

"The Trump bump, that initial surge after the election, is actually largely over," Thompson said on "Power Lunch."

"Yes, we've got a good news cycle but also we're getting our marketing right, we are launching new products … we're pouring money into journalism," he added. "It shows that we can sustain it long after the whole Trump phenomenon comes to an end."

Before the bell on Thursday, The New York Times reported third-quarter earnings that beat on the top and bottom lines. The company also reported more than 3 million digital-only subscriptions and 4 million total subscriptions as of the end of the quarter.

The stock jumped on the news, hitting a new 52-week high. It was up more than 6 percent in afternoon trading.

— CNBC's Sara Salinas contributed to this report.

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