What happened
Shares of Qurate Retail (QRTEA +0.00%), an online and video-based retailer, took a hit on Thursday, falling as much as 17%. As of 12:40 p.m. EST, the stock was down 16%.
The stock's decline follows the company's fourth-quarter results. While revenue for the period was in line with what analysts were expecting, adjusted earnings per share were below the consensus analyst estimate for the key metric.
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So what
Qurate reported fourth-quarter revenue of $4.4 billion, up 1% year over year. This growth was comprised of 6% and 3% year-over-year increases in revenue from zulily and QVC U.S., respectively, and declines of 3% at QVC International, 1% at HSN, and 4% at Cornerstone.
Adjusted earnings per share for the period came in at $0.62, in line with the result in the year-ago quarter.
Analysts, on average, were expecting revenue of $4.4 billion and adjusted earnings of $0.73 per share.
Check out the latest Qurateearnings call transcript.
Now what
Going into 2018, "[m]argin improvement is a top priority," said Qurate Retail CEO Mike George in the company's fourth-quarter earnings release. The company wants to do this as it captures integration synergies, makes product margin improvements, and spends on marketing more efficiently.
