Qurate Retail Q3 revenue falls 13%, records $3B impairment charges; adj. EPS $(0.08)

QVC Group, Inc.

2022-Q3 EPS reported -$6.69 revenue$8,580,000,000

Revenue $2.744B down 13% YoY; GAAP diluted EPS $(7.21) from $3B non-cash impairments.
QxH revenue down 8% to $1.7B, QVC Intl down 21% (cc -5%) to $554M, Zulily down 39% to $200M, Cornerstone up 8% to $327M.
Adjusted OIBDA $185M, down 57% YoY; adjusted diluted EPS $(0.08).
Completed $443M US property sale-leaseback; signed UK/Germany sale-leaseback for £68M and €97M; $180M insurance proceeds in Q3.
No share repurchases Aug-Oct; remaining buyback authorization $492M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

QVC Group, Inc. reported third quarter 2022 results: revenue $2.7 billion, EPS $(7.21).

Period: third quarter 2022
Revenue: $2.7 billion
EPS: $(7.21)
Result: reported results

Exact text from the filing

Third quarter 2022 operating results: ● Qurate Retail revenue decreased 13% to $2.7 billion ● In constant currency (2) revenue decreased 9% ● eCommerce revenue decreased 13% to $1.7 billion or 62% of total revenue ● Qurate Retail reported diluted EPS of $(7.21), including impact of non-cash impairment recognized at QxH and Zulily related to tradenames and goodwill (additional detail below) ● Adjusted diluted EPS (3) of $(0.08)

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QVC Group, Inc. filing history →

Source: SEC EDGAR

accession 0001355096-22-000039

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