QVC Advances In Q2 On Mobile And E-Commerce Sales

Liberty Interactive Corp., parent of the QVC Group, has reported second quarter results. According to the company, the total QVC Group operating income was $284 million for the quarter versus $271 million for the year-earlier period while adjusted net income came in at $161 million versus $157 million in the 2014 frame.

Net income matched a Zacks Investment Research analyst average estimate.

Operating income in the United States was $226 million compared with $203 million in last year’s quarter, the company maintained.

Total group revenue came in at $2 billion versus $2.01 billion in the year-prior quarter while revenue in the United States was $1.41 billion versus $1.35 billion in the 2014 period.

“QVC generated strong results across the board with local currency growth in all consolidated markets. The expansion in mobile orders continues at a rapid pace, comprising 49% of total e-commerce orders worldwide,” said Greg Maffei, Liberty Interactive president and CEO.

Consolidated e-commerce revenue gained 9% to $848 million and grew to 42% from 39% of consolidated revenue versus last year’s quarter as mobile orders reached the 49% of total e-commerce order figure versus 40% a year earlier.

U.S. sales gained in all categories except electronics, the company pointed out. E-commerce revenue advanced 11% to $655 million and grew to 47% of total U.S. revenue from 43% in last year’s quarter.

In addition, during the quarter, Liberty completed the sale of Backcountry.com.