Shares of Qurate Retail (NASDAQ:QRTEA), 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.
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.
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.