Earnings: Liberty Interactive Revenue Declines 6 Percent
This story was written by David Kaplan.
Fresh from merging Liberty Entertainment with DirecTV (NYSE: DTV) on Monday, the cable company ended the week saying that revenues at Liberty Interactive, which houses home shopping channel QVC, fell 6 percent to $1.8 billion. Interactive's adjusted operating-income-before-depreciation-and-amortization (OIBDA) fell 15 percent to $341 million. There was some imbalance on the shopping end, as QVC's revenue fell 10 percent to $1.6 billion, while the e-commerce businesses, which include Provide Commerce, Backcountry.com and Bodybuilding.com saw revenues rise by 29 percent to $238 million.
Liberty Entertainment group's revenue increased 19 percent to $369 million, which was boosted by the acquisition of Liberty Sports Group in March 2008, as well as 8 percent revenue gains at the Starz cable network.
Earning release | Webcast (12:00 PM EDT)
By David Kaplan