posted a first-quarter loss.
Securities and Exchange Commission
filing, the Englewood, Colo., company posted a loss of $26 million, or 1 cent per share, for the quarter ended March 31. That compared with year-ago profit of $254 million, or 9 cents a share. Revenue rose to $1.98 billion from $1.82 billion.
The revenue increase was driven largely by the performance of home shopping network QVC, where revenue climbed to $1.56 billion from $1.46 billion during the same period last year.
Analysts polled by Thomson Financial were looking for the company to make 2 cents per share on $1.95 billion in revenue.
The John Malone-controlled company is launching two tracking stocks, one that pools its interactive holdings such as QVC and its investment in
, and another that groups its capital investments in companies such as
and Starz Entertainment Group.
The company, which holds a 4% stake in Time Warner, is currently in discussions with the New York media company regarding a sale of its 50% stake in Court TV. Liberty is also considering a possible acquisition of the Atlanta Braves baseball franchise in exchange for part of its Time Warner holdings.
Liberty Capital and Liberty Interactive Series A and B common stock began trading on a when-issued basis over the counter last week. They will begin formal trading Wednesday, pending shareholder approval of the restructuring at the company's annual meeting today.
Last month Liberty provided guidance for the rest of the year, saying it expects its interactive group to see revenue growth in the low double digits.