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Mar 31, 2023
Qurate Q1 2023 Earnings Report
Qurate Retail's financial performance was mixed, with revenue declining but operating income increasing due to strategic initiatives and gains from sale leaseback transactions.
Key Takeaways
Qurate Retail reported a decrease in revenue but an increase in operating income for Q1 2023. Revenue decreased by 8% to $2.6 billion, while operating income increased by 66% to $176 million. The company is focused on improving profitability through cost actions and strategic initiatives.
Qurate Retail revenue decreased by 8% to $2.6 billion, with a 6% decrease in constant currency.
The company reported diluted EPS of $0.05 and adjusted diluted EPS of $(0.05).
Operating income increased by 66% to $176 million due to gains from sale leaseback transactions and comparisons against prior year write-downs.
The company is focused on factors within its control, including Project Athens and cost actions, to drive material improvement in profitability in the back half of the year.
Revenue by Segment
Forward Guidance
Qurate Retail expects to see material improvement in profitability in the back half of this year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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