Qurate Retail Group, Inc. (QRTEA) Tops Q2 EPS by 5c, Revenues Beat

Qurate Retail Group, Inc. (NASDAQ: QRTEA) reported Q2 EPS of $0.54, $0.05 better than the analyst estimate of $0.49. Revenue for the quarter came in at $3.4 billion versus the consensus estimate of $3.21 billion.

“We generated strong growth in revenue, OIBDA, and free cash flow in the second quarter, with every business unit and geographic market achieving meaningful sales gains and significant new customer additions,” said Mike George, President and CEO of Qurate Retail. “Our agile teams responded to the ongoing shifts in consumer needs during this challenging time to deliver engaging and relevant experiences across our eCommerce, video and social platforms. While economic uncertainty remains, our recent results give us confidence that we can generate sustained growth by continued execution of our strategies to offer unique differentiated products and immersive and trusted shopping experiences across all the digital platforms relevant to today’s consumer, while keeping the health and well-being of our team members and communities our top priority.”

Second quarter operating results:

• Total Qurate Retail revenue increased 10% to $3.4 billion
  • Revenue increased 10% in constant currency(2)
  • eCommerce revenue grew 19% to $2.2 billion or 64% of total revenue
• Qurate Retail reported diluted EPS of $0.53
  • Adjusted diluted EPS(3) of $0.54
• QxH revenue increased 7% to $2.0 billion
• QVC International revenue increased 11% to $713 million
  • Revenue increased 12% in constant currency
• Zulily revenue increased 16% to $422 million
• Cornerstone revenue increased 18% to $277 million

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

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