Liberty Interactive Corp.
) reported weak financial results for the fourth quarter of 2012,
missing the Zacks Consensus Estimates. Quarterly net income was
$174 million or 32 cents per share compared with $285 million or
48 cents per share in the year-ago quarter. Fourth-quarter 2012
earnings per share of 32 cents were well below the Zacks
Consensus Estimate of 44 cents.
Quarterly total revenue of $3,143 million reflected a yearly
improvement of 2% and was exactly in line with the Zacks
Consensus Estimate.Liberty Interactive currently has a Zacks Rank
Fourth-quarter 2012 gross margin was 36% compared with 35.9%
in the prior-year quarter. Quarterly total operating income came
in at $382 million as opposed to $409 million in the year-ago
quarter. In the reported quarter, consolidated adjusted OIBDA
came in at $626 million compared with $619 million in the
year-ago quarter. In the previous quarter, Liberty Interactive
repurchased approximately 9 million Class A shares for a total
consideration of $177 million.
In 2012, Liberty Interactive generated $1,432 million of cash
compared with $900 million in 2011. Free cash flow in 2012 was
$1,039 million compared with $588 million in 2011. At the end of
2012, Liberty Interactive had total consolidated cash and
marketable securities of $4,479 million compared with $2,015
million at the end of 2011. Liberty Interactive exited 2012 with
$7,884 million of outstanding debt compared with $6,039 million
at the end of 2011. Debt-to-capitalization ratio was 0.45 at the
end of 2012 compared with 0.42 at the end of 2011.
Quarterly total revenue of
was $2,692 million, up 2% year over year. Consolidated adjusted
OIBDA was $603 million, up 4% year over year. Consolidated
operating income was $449 million, up 13% year over year.
quarterly revenue inched up 2% year over year to $1,828 million.
Gross margin was 34.7% compared with 34.6% in the year-ago
quarter. Adjusted OIBDA was $429 million, up 7% year over year.
Operating income was $312 million, up 23% year over year.
quarterly revenue inched up 1% year over year to $864 million.
Gross margin was 37.1% compared with 37.4% in the year-ago
quarter. Adjusted OIBDA was $174 million, down 2% year over year.
Operating income was $137 million, down 4% year over year.
According to a report of Internet Retailer, after
), QVC was the second-largest e-commerce retailer of the U.S. in
2012. QVC has become the market leader in the $8 billion TV
home-shopping business commanding an estimated 69% market share,
far ahead of its nearest rivals,
ValueVision Media Inc.
Quarterly revenue of eCommerce Business segment was $451
million, up 5% year over year. Quarterly adjusted OIBDA was $35
million, down 29% year over year. Operating loss was $39 million,
in the quarter, in contrast to an operating income of $30 million
in the prior-year quarter.
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