- Liberty Interactive (NASDAQ:QVCA) is 10.7% lower following Q2 earnings where net income dropped 14% as sales declined at home and internationally.
- OIBDA was flat, rising to just $488M as International gains were offset by declines in the US and at zulily.
- Consolidated QVC revenue fell 4%, down 3% in constant currency.
- QVC revenue was also dinged by 1% due to a system outage that pushed shipment backlog into the third quarter.
- Revenue breakout: QVC US, $1.43B (down 4%); QVC International, $635M (down 4%); zulily, $366M (flat).
- Consolidated mobile penetration came to 63% of QVC.com orders (up 520 basis points). In the U.S., it was 62% of orders, up 490 basis points.
- The company's proceeding toward a split of Liberty Ventures into GCI Liberty once a deal for General Communication Inc. wraps; the result will be two asset-backed stocks: QVC Group and GCI Liberty.
- Conference call to come at 2:30 p.m. ET.
- Press Release
- Now read: Liberty Interactive (QVCA) Acquires Rest Of HSN (HSNI) For .6B - Slideshow
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