This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Liberty Interactive Corporation Reports Third Quarter 2012 Financial Results

Stocks in this article: LINTA LINTB LVNTA LVNTB

FOOTNOTES

(1)

 

Liberty’s President and CEO, Gregory B. Maffei, will discuss these highlights and other matters in Liberty’s earnings conference call which will begin at 11:00 a.m. (ET) on November 6, 2012. For information regarding how to access the call, please see “Important Notice” later in this document.

(2)

For a definition of adjusted OIBDA and applicable reconciliations and a definition of adjusted OIBDA margin, see the accompanying schedules.

LIBERTY INTERACTIVE GROUP FINANCIAL METRICS

                   

(amounts in millions)

3Q11       3Q12       % Change
Revenue
QVC
US $1,196 1,237 3 %
International 690         681         -1 %
Total QVC Revenue 1,886         1,918         2 %
eCommerce businesses 247         278         13 %
Total Liberty Interactive Group Revenue $2,133         2,196         3 %
 
Adjusted OIBDA
QVC
US $ 259 278 7 %
International 114         119         4 %
Total QVC Adjusted OIBDA 373         397         6 %
eCommerce businesses 9 4 -56 %
Corporate and other (4 )       (4 )       0 %
Total Liberty Interactive Group Adjusted OIBDA $378         397         5 %
 
Operating Income
QVC
US $159 173 9 %
International 75         87         16 %
Total QVC Operating Income 234         260         11 %
eCommerce businesses (2 ) (56 ) -2,700 %
Corporate and other (7 )       (11 )       -57 %
Total Liberty Interactive Group Operating Income $225         193         -14 %
 

QVC OPERATING METRICS

                   
(amounts in millions except average sale price amounts) 3Q11         3Q12       % Change  
QVC - US (1)
Revenue $1,196 1,237 3 %
Adjusted OIBDA $259 278 7 %
Adjusted OIBDA margin 21.66 % 22.47 % 81 bps
Average sale price (ASP) 54.49 55.21 1 %
Units sold 24.44 24.64 1 %
eCommerce % of US revenue 35.26 % 38.74 % 348 bps
Return rate 19.91 % 20.05 % (14) bps
 
QVC - Japan (1)
Revenue $281 301 7 %
Adjusted OIBDA $61 67 10 %
Adjusted OIBDA margin 21.71 % 22.26 % 55 bps
Average sale price (ASP) ¥6,267 6,215 -1 %
Units sold 3.81 4.18 10 %
 
QVC - Germany (1)
Revenue $252 211 -16 %
Adjusted OIBDA $40 36 -10 %
Adjusted OIBDA margin 15.87 % 17.06 % 119 bps
Average sale price (ASP) €36.56 35.23 -4 %
Units sold 6.45 6.16 -4 %
 
QVC - UK (1)
Revenue $147 149 1 %
Adjusted OIBDA $24 21 -13 %
Adjusted OIBDA margin 16.33 % 14.09 % (224) bps
Average sale price (ASP) £27.66 27.91 1 %
Units sold 3.60 3.61 0 %
 
QVC - Italy (1)
Revenue $10 20 100 %
Adjusted OIBDA ($11 ) (5 ) 55 %
Adjusted OIBDA margin -110.00 % -25.00 % NM
Average sale price (ASP) €31.98 33.01 3 %
Units sold 0.22 0.54 145 %
(1)   Revenue and adjusted OIBDA change calculated in US dollars, not local currency

NOTES

Unless otherwise noted, the foregoing discussion compares financial information for the three months ended September 30, 2012 to the same period in 2011.

6 of 13

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs