Qurate Retail Q1 revenue down 8% to $2.6B; adjusted EPS loss of $0.05

QVC Group, Inc.

2023-Q1 EPS reported $0.05 revenue$2,644,000,000

Revenue $2.64B (-8% YoY); total customers LTM down 14% at QxH and 33% at Zulily.
GAAP EPS $0.05; adjusted EPS -$0.05; adjusted OIBDA $179M (-47% YoY).
QxH revenue -5%, QVC Intl -12% (+3% constant currency), Cornerstone -13%, Zulily -17%.
Workforce reductions at QxH ($60M annual savings) and Zulily ($14M); Project Athens on track.
Cash $1.29B; repaid $214M senior secured notes; QVC leverage 2.5x; $55M insurance proceeds received.

item 2.02 item 7.01 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 first quarter 2023 results: revenue $2.6 billion, EPS $0.05.

Period: first quarter 2023
Revenue: $2.6 billion
EPS: $0.05
Result: reported results

Exact text from the filing

First quarter 2023 operating results: ● Qurate Retail revenue decreased 8% to $2.6 billion o In constant currency (2) revenue decreased 6% ● Qurate Retail reported diluted EPS of $0.05 o Adjusted diluted EPS (3) of $(0.05)

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QVC Group, Inc. filing history →

Source: SEC EDGAR

accession 0001355096-23-000016

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