Liberty Interactive Corp.
) reported disappointing financial results for the first quarter of
2014. Quarterly net income was $110 million or 22 cents per share
compared with $53 million or 18 cents per share in the year-ago
quarter. However, first-quarter 2014 earnings per share of 22 cents
lagged the Zacks Consensus Estimate of 25 cents.
Quarterly total revenue of $2,447 million reflected a
year-over-year improvement of 1% but fell below the Zacks Consensus
Estimate of $2,509 million.
Quarterly total operating income came in at $244 million
compared with $260 million in the year-ago quarter. In the reported
quarter, consolidated adjusted operating income before depreciation
and amortization stood at $431 million against $437 million in the
From Feb 1, 2014 through Apr 30, 2014, Liberty Interactive
repurchased approximately 7.9 million Series A shares for a total
consideration of $224.1 million. In the first quarter of 2014,
Liberty Interactive generated $526 million of cash from operations
compared with $100 million in the year-ago quarter. Free cash flow
in the reported quarter was $438 million against $41 million in the
At the end of the first quarter of 2014, Liberty Interactive had
total consolidated cash and marketable securities of $2,166 million
compared with $2,757 million at the end of 2013. Liberty
Interactive exited the reported quarter with $7,591 million of
outstanding debt compared with $7,384 million at the end of 2013.
The debt-to-capitalization ratio at first-quarter end was 0.49
compared with 0.48 at the end of 2013.
QVC, a segment of Liberty Interactive, is the second largest
e-commerce retailer in the U.S. after
). Liberty Interactive also holds approximately 38% of
) and about 22% of the equity and 57% of the total votes of all
) common stock. Liberty Interactive currently has a Zacks Rank #3
Quarterly total revenue of the
segment was $1,986 million, up 1% year over year. Consolidated
adjusted OIBDA was $412 million, up 2% year over year. Consolidated
operating income stood at $260 million, remaining flat year over
Quarterly revenues of
inched up 1% year over year to $1,305 million. Gross margin was
36.4% against 36.1% in the prior-year quarter. Adjusted OIBDA stood
at $301 million, up 3.4% year over year. Operating income was $186
million, up 3.3% year over year.
Quarterly revenues of
rose 0.6% year over year to $681 million. Gross margin was 37.4%
compared with 37.5% in the prior-year quarter. Adjusted OIBDA was
$111 million, down 1.2% year over year. Operating income was $74
million, down 7.5% from the year-ago quarter.
Quarterly revenues at the
segment totaled $461 million, remaining flat year over year.
Quarterly adjusted OIBDA was $23 million, down 41% year over year.
Operating loss was $1 million, up 105% year over year.
Want the latest recommendations from Zacks Investment Research?
Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
AMAZON.COM INC (AMZN): Free Stock Analysis
HSN INC (HSNI): Free Stock Analysis Report
LIBERTY M INT-A (LINTA): Free Stock Analysis
TRIPADVISOR INC (TRIP): Free Stock Analysis
To read this article on Zacks.com click here.