Qurate Retail Group, Inc. (QRTEA) Tops Q4 EPS by 2c, Revenues Beat

Qurate Retail Group, Inc. (NASDAQ: QRTEA) reported Q4 EPS of $0.68, $0.02 better than the analyst estimate of $0.66. Revenue for the quarter came in at $4.17 billion versus the consensus estimate of $4.14 billion.

Fourth quarter and full year 2019 operating results:

• Total Qurate Retail revenue decreased 5% to $4.2 billion in Q4 and 4% to $13.5 billion in full year 2019
  • Revenue decreased 5% in Q4 and 4% in full year 2019 in constant currency(2)
  • eCommerce revenue of $2.6 billion or 62% of total revenue in Q4 and $8.0 billion or 60% of total revenue in full year 2019
• Qurate Retail reported diluted EPS of $0.34 in Q4 and $(1.08) in full year 2019
  • Adjusted diluted EPS(3) of $0.68 in Q4 and $1.93 in full year 2019
• QxH revenue decreased 3% in both Q4 and full year 2019
• QVC International revenue increased 1% in Q4 and decreased 1% in full year 2019
  • Revenue increased 1% in Q4 and 1.5% in full year 2019 in constant currency
• Zulily revenue decreased 18% in Q4 and 14% in full year 2019
• Cornerstone revenue decreased 6% in Q4 and 7% in full year 2019
  • Revenue increased 1% in Q4 and was flat in full year 2019 excluding closed Improvements business

"Our fourth quarter results were in line with full-year trends, notably we experienced pressure on revenue and margins from the investment in network optimization at QxH. Despite these challenges, we were encouraged with our ability to grow free cash flow in 2019 on an operating basis," said Mike George, President and CEO of Qurate Retail. "We are accelerating the execution of our strategic priorities as we work to return to profitable growth. We continue to lead the curation of special products at compelling values across multiple platforms, providing customers an important third way to shop.”

For earnings history and earnings-related data on Qurate Retail Group, Inc. (QRTEA) click here.

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