Liberty Interactive Corporation (NASDAQ:LINTA) reported a lower net income in the second quarter, missing analysts’ estimates. Liberty Media is engaged in the video and on-line commerce, media, communications, and entertainment industries.
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Liberty Interactive Corporation Earnings Cheat Sheet
Results: Net income for the company fell to $249 million vs. $269 million a year earlier. This is a decline of 7.4% from the year-earlier quarter.
Revenue: Rose 5.3% to $2.37 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Liberty Interactive Corporation beat the average revenue estimate of $2.31 billion.
Quoting Management: “QVC continues to produce solid results despite a challenging macroeconomic environment. We were pleased we received government approval in China and finalized our joint venture with China National Radio in July,” stated Greg Maffei, Liberty Interactive President and CEO. “We have a stockholder vote later today and expect our new Liberty Ventures tracking stock to begin trading on August 10. We continued our share repurchases reinvesting $257 million.”
Revenue has increased for four quarters in a row. Revenue increased 7.2% to $2.31 billion in the first quarter. The figure rose 6.7% in the fourth quarter of the last fiscal year from the year earlier and climbed 8.4% in the third quarter of the last fiscal year from the year-ago quarter.
Looking Forward: Over the past ninety days, the average estimate for the third quarter has fallen from 29 cents per share to 24 cents, indicating that analysts are growing pessisimistic about the company’s performance next quarter. The average estimate for the fiscal year is 97 cents per share, down from $1.03 ninety days ago.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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