Liberty Interactive Corporation (Nasdaq: LINTA, LINTB) will release its fourth quarter earnings on Thursday, February 23rd at 11:00 a.m. (ET). Greg Maffei, Liberty Interactive’s President and CEO, will host a conference call to discuss the company’s financial performance at that time. Interested parties can participate by calling Premiere Conferencing at (888) 452-4034 or (719) 325-2145 at least 10 minutes prior to the call. A simulcast and, thereafter, recorded audio of the call will be available on the Liberty Interactive website.
Jan 252012
Liberty Interactive Reports First Financial Results as Standalone Company — Increases Stake in HSN
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Nov 092011
Liberty Interactive Corp.’s (LINTA, LINTB) third-quarter operating profit increased by 1.8% in its first report as a standalone company, largely as a result of QVC’s reporting encouraging buying trends. In prepared remarks, QVC President and CEO Mike George said:
QVC achieved 6% consolidated net revenue growth including 2% growth in the US and 14% growth in our international markets … We saw continued strong growth in Germany, encouraging gains in Japan, and growing momentum in Italy. Excluding the previously discussed change in our QCard program with GE Capital Retail Bank, our adjusted OIBDA growth would have been up 2%, this on top of 8% in growth last year. Our eCommerce worldwide revenue grew 19% and now represents 30% of QVC’s consolidated net revenue. Revenue from new customers grew 29% in the US, representing our highest growth rate since 2009. QVC remains focused on growing sales and gaining share in the current retail environment by offering differentiated and compelling products, engaging our customers on all the screens and devices they interact with daily, and expanding globally.”
Besides driving its core business, the company took advantage of the soft equity markets to do some shopping. In addition to repurchasing approximately $173 million of its own stock in the third quarter, Liberty Interactive agreed to purchase an additional 1.5 million shares of HSN, scheduled to close in the fourth quarter, which will increase its ownership stake in the number two shopping network to 34%.
Formerly known as Liberty Media Corp., Liberty Interactive completed a split-off of assets tied to Liberty Capital (LCAPA, LCAPB) and Liberty Starz (LSTZA, LSTZB), to highlight the improving performance of its QVC home-shopping network. Today Liberty Interactive consists of QVC and a number of internet businesses, including Expedia and BackCountry.com. Liberty Media Corp., meanwhile, holds interests in a broad range of media, communications and entertainment businesses, including the Starz entertainment networks. Dow Jones Newswires Liberty Interactive Press Release Nov 8, 2011
