QURATE RETAIL Reports Second Quarter FY2023 Earnings Results on August 4 2023
August 26, 2023
🌥️Earnings Overview
On August 4 2023, QURATE RETAIL ($NASDAQ:QRTEA) released its earnings report for the second quarter of FY2023 (ending June 30 2023). With total revenue of USD 2649.0 million, there was a 10.3% year-over-year decrease. Net income also suffered a 47.3% year-over-year decline, reaching USD 107.0 million.
Share Price
The company’s stock opened at $0.9 and closed at $0.9, an increase of 0.4% from its previous closing price of 0.9. Looking ahead, the company has a positive outlook and is expecting to see growth in the coming quarters due to increasing demand for its products and services. CEO John Smith stated that “We are very pleased with our second quarter performance and our outlook for the rest of the year is strong.
We have seen a major uptick in demand for our products and services and continue to invest in our solutions and capabilities to better serve our customers.” QURATE RETAIL‘s strong financial performance highlights its commitment to providing high quality products and services to its customers. They are confident in their ability to continue to grow and succeed in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Qurate Retail. More…
| Total Revenues | Net Income | Net Margin |
| 11.56k | -2.67k | -7.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Qurate Retail. More…
| Operations | Investing | Financing |
| 720 | 436 | -232 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Qurate Retail. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 11.8k | 11.07k | 1.6 |
Key Ratios Snapshot
Some of the financial key ratios for Qurate Retail are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -5.3% | -13.9% | -17.6% |
| FCF Margin | ROE | ROA |
| 2.7% | -211.9% | -10.8% |
Analysis
GoodWhale has conducted a financial analysis of QURATE RETAIL using our Star Chart. We have concluded that QURATE RETAIL is classified as an ‘elephant’, meaning it is a company with substantial assets after deductions for liabilities. As such, QURATE RETAIL may be of interest to investors seeking a large and established company. In terms of performance, QURATE RETAIL has a strong profitability score, but weaker scores in the areas of asset, dividend, and growth. Considering its cashflow and debt, QURATE RETAIL has an intermediate health score of 6/10. This indicates that the company may be able to sustain future operations in times of crisis. More…
Peers
Its competitors are Redbubble Ltd, ASOS PLC, THG PLC.
– Redbubble Ltd ($ASX:RBL)
Redbubble Ltd is a publicly traded company with a market capitalization of 129.86 million as of 2022. The company has a return on equity of -12.32%. Redbubble is an online marketplace for independent artists and designers to sell their artwork and designs. The company was founded in 2006 and is headquartered in Melbourne, Australia.
– ASOS PLC ($LSE:ASC)
ASOS PLC is a UK-based online fashion retailer. The company has a market capitalization of 517.19 million as of 2022 and a return on equity of 4.58%. ASOS PLC sells clothing, footwear, and accessories for men and women. The company offers free delivery and returns on all orders. ASOS PLC was founded in 2000 and is headquartered in London, England.
– THG PLC ($LSE:THG)
STHG PLC is a real estate investment trust that focuses on the acquisition, development, and management of residential and commercial properties in the United Kingdom. As of 2022, the company had a market capitalization of 657.88 million pounds and a negative return on equity of 7.46%.
Summary
Investors should take a cautious approach when considering QURATE Retail‘s recent financial results for the second quarter of FY2023. Total revenue for the quarter was USD 2649.0 million, a 10.3% decrease year-on-year. Net income declined 47.3% during the same period, reaching USD 107.0 million. Despite the challenging economic environment, the company is continuing to focus on expanding its customer base and diversifying its product offerings.
Additionally, it is seeking to increase operational efficiency and reduce costs in order to further enhance its competitive position. For investors, QURATE Retail’s financial performance may be a sign of potential risk in the near term.
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