Qurate Retail | 10-Q: FY2025 Q3 Revenue: USD 2.213 B

LB filings
2025.11.05 21:00
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Revenue: As of FY2025 Q3, the actual value is USD 2.213 B.

EPS: As of FY2025 Q3, the actual value is USD -9.89.

EBIT: As of FY2025 Q3, the actual value is USD 78 M.

QxH Segment

  • Net Revenue: $1,416 million for Q3 2025, down from $1,521 million in Q3 2024. For the nine months ended September 30, 2025, net revenue was $4,175 million, down from $4,618 million in the same period in 2024.
  • Cost of Goods Sold: $944 million for Q3 2025, down from $997 million in Q3 2024. For the nine months ended September 30, 2025, cost of goods sold was $2,767 million, down from $3,011 million in the same period in 2024.
  • Gross Profit: $472 million for Q3 2025, down from $524 million in Q3 2024. For the nine months ended September 30, 2025, gross profit was $1,408 million, down from $1,607 million in the same period in 2024.
  • Operating Income (Loss): $48 million for Q3 2025, down from $107 million in Q3 2024. For the nine months ended September 30, 2025, operating loss was -$2,286 million, down from an operating income of $307 million in the same period in 2024.
  • Adjusted OIBDA: $135 million for Q3 2025, down from $182 million in Q3 2024. For the nine months ended September 30, 2025, Adjusted OIBDA was $407 million, down from $561 million in the same period in 2024.

QVC International Segment

  • Net Revenue: $566 million for Q3 2025, down from $571 million in Q3 2024. For the nine months ended September 30, 2025, net revenue was $1,696 million, down from $1,719 million in the same period in 2024.
  • Cost of Goods Sold: $373 million for Q3 2025, down from $369 million in Q3 2024. For the nine months ended September 30, 2025, cost of goods sold was $1,102 million, the same as in the same period in 2024.
  • Gross Profit: $193 million for Q3 2025, down from $202 million in Q3 2024. For the nine months ended September 30, 2025, gross profit was $594 million, down from $617 million in the same period in 2024.
  • Operating Income (Loss): $43 million for Q3 2025, down from $57 million in Q3 2024. For the nine months ended September 30, 2025, operating income was $134 million, down from $177 million in the same period in 2024.
  • Adjusted OIBDA: $58 million for Q3 2025, down from $70 million in Q3 2024. For the nine months ended September 30, 2025, Adjusted OIBDA was $196 million, down from $222 million in the same period in 2024.

CBI Segment

  • Net Revenue: $231 million for Q3 2025, down from $252 million in Q3 2024. For the nine months ended September 30, 2025, net revenue was $682 million, down from $756 million in the same period in 2024.
  • Cost of Goods Sold: $144 million for Q3 2025, down from $151 million in Q3 2024. For the nine months ended September 30, 2025, cost of goods sold was $400 million, down from $447 million in the same period in 2024.
  • Gross Profit: $87 million for Q3 2025, down from $101 million in Q3 2024. For the nine months ended September 30, 2025, gross profit was $282 million, down from $309 million in the same period in 2024.
  • Operating Income (Loss): -$9 million for Q3 2025, down from -$2 million in Q3 2024. For the nine months ended September 30, 2025, operating loss was -$10 million, down from an operating income of $6 million in the same period in 2024.
  • Adjusted OIBDA: -$2 million for Q3 2025, down from $6 million in Q3 2024. For the nine months ended September 30, 2025, Adjusted OIBDA was $10 million, down from $31 million in the same period in 2024.

Corporate and Other

  • Operating Income (Loss): -$22 million for Q3 2025, down from -$10 million in Q3 2024. For the nine months ended September 30, 2025, operating loss was -$38 million, down from -$28 million in the same period in 2024.
  • Adjusted OIBDA: -$22 million for Q3 2025, down from -$8 million in Q3 2024. For the nine months ended September 30, 2025, Adjusted OIBDA was -$37 million, down from -$23 million in the same period in 2024.

Future Outlook and Strategy

  • WIN Strategy: QVC announced the WIN strategy, targeting top-line growth through three central priorities: (i) ‘Wherever She Shops’ - aims to enhance customer interactions across diverse platforms; (ii) ‘Inspiring People & Products’ - fosters rich, engaging content experiences; and (iii) ‘New Ways of Working’ - emphasizes leveraging technology and process enhancements to streamline operations and fuel innovation.
  • Operational Changes: QVC announced the consolidation of its QVC and HSN operations at QVC’s Studio Park location in West Chester, PA, and the closing of the St. Petersburg, FL campus. This consolidation is part of QVC’s organizational and strategic changes intended to support its WIN strategy.
  • Compensation Structure: In August 2025, the Board of Directors of QVC Group implemented a revised compensation structure for QVC Group’s senior executives and a large number of existing participants in QVC Group’s incentive compensation programs.
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