QRTEA - Qurate Retail slides after fourth quarter's revenue declines 9%

Qurate Retail (QRTEA -5.9%) fell after the company reported 9% decline in its ecommerce revenue to $2.6B during 4Q21. Total Qurate Retail revenue decreased 9% to $4.1B, in line with company's preliminary estimate explaining lower-than-expected demand. Full-year revenue was $14B (-1% Y/Y) Q4 Segment Revenue: QxH revenue, $2.72B (-7% Y/Y); QVC International, $896M (-9% Y/Y); Zulily, $503M (-30% Y/Y); and Cornerstone, $331M (+8% Y/Y). ecommerce contributed 65% of company's total revenue. Adjusted OIBDA was $683M (-19% Y/Y). Non-GAAP EPS of $0.40. The company ended the quarter with cash, cash equivalents and restricted cash of $596M.

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Qurate Retail slides after fourth quarter's revenue declines 9%