Liberty Interactive Corporation (LINTA) Misses Q1 EPS by 2c

Liberty Interactive Corporation (NASDAQ: LINTA) reported Q1 EPS of $0.22, $0.02 worse than the analyst estimate of $0.24. Revenue for the quarter came in at $2.45 billion versus the consensus estimate of $2.52 billion.

Attributed to Liberty Interactive Group

• Grew QVC US revenue by 1% and adjusted OIBDA(2) by 3% in the first quarter
  • QVC US operating income increased by 3%
  • QVC.com revenue as a percent of total US revenue increased to 45%, a 327 bps increase
  • QVC US mobile penetration was 37% of QVC.comorders
• Repurchased $224 million LINTA shares from February 1 to April 30, 2014

Attributed to Liberty Ventures Group

• Reported strong first quarter results at TripAdvisor
  • Increased 2014 revenue guidance to high 20%/low 30% range
  • EBITDA expected to grow at same percentage as total revenue
• Completed two-for-one stock split of the Liberty Ventures stock on April 11, 2014
• Filed S-1 related to proposed spin-off of Liberty TripAdvisor Holdings with the SEC on May 6, 2014

“QVC expanded adjusted OIBDA margins in the US. On the international front, QVC posted very strong results in the UK, experienced rapid growth in its China joint venture, adding over 10 million homes in the quarter, and announced QVC France, with an expected launch in the summer of 2015. We continue to progress with the creation of the Liberty Digital Commerce Group tracking stock and expect to file the S-4 with the SEC shortly," stated Greg Maffei, Liberty President and CEO. “And at Liberty Ventures, we filed the S-1 related to the Liberty TripAdvisor Holdings spin-off with the SEC on May 6th.”

For earnings history and earnings-related data on Liberty Interactive Corporation (LINTA) click here.

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