Information About QVC Group's Operating Segments (Tables)

6 Months Ended

Jun. 30, 2025

Information About QVC Group's Operating Segments

Schedule of disaggregation of revenue


		Three months ended
		June 30, 2025
			QxH		QVC Int'l		CBI		Corp and other		Total

	in millions
Home		$	527		233		214		—		974
Apparel			299		112		38		—		449
Beauty			208		138		—		—		346
Accessories			180		56		—		—		236
Jewelry			62		37		—		—		99
Electronics			76		16		—		—		92
Other revenue			39		1		—		—		40
Total Net Revenue		$	1,391		593		252		—		2,236


		Six months ended
		June 30, 2025
			QxH		QVC Int'l		CBI		Corp and other		Total

	in millions
Home		$	1,065		456		374		—		1,895
Apparel			557		211		78		—		846
Beauty			419		258		—		—		677
Accessories			353		102		—		—		455
Jewelry			125		70		—		—		195
Electronics			165		31		—		—		196
Other revenue			75		2		—		—		77
Total Net Revenue		$	2,759		1,130		452		—		4,341


		Three months ended
		June 30, 2024
			QxH		QVC Int'l		CBI		Corp and other		Total

		in millions
Home		$	596		221		234		—		1,051
Apparel			328		105		39		—		472
Beauty			239		141		—		—		380
Accessories			212		53		—		—		265
Jewelry			73		39		—		—		112
Electronics			73		16		—		—		89
Other revenue			37		1		—		—		38
Total Net Revenue		$	1,558		576		273		—		2,407


		Six months ended
		June 30, 2024
			QxH		QVC Int'l		CBI		Corp and other		Total

	in millions
Home		$	1,185		458		423		—		2,066
Apparel			610		213		81		—		904
Beauty			478		270		—		—		748
Accessories			413		101		—		—		514
Jewelry			153		72		—		—		225
Electronics			181		31		—		—		212
Other revenue			77		3		—		—		80
Total Net Revenue		$	3,097		1,148		504		—		4,749

Schedule of performance measures


		Three months ended June 30, 2025
		QxH			QVC Int'l		CBI		Corporate and other		Total

		amounts in millions
Net Revenue		$	1,391		593		252		—		2,236
Cost of goods sold (exclusive of depreciation and amortization)			900		381		141		—		1,422
Gross profit			491		212		111		—		814
Operating expense			107		47		10		—		164
Advertising expense			68		10		45		—		123
Selling, general and administrative expense (exclusive of stock-based compensation and advertising)			166		80		39		10		295
Adjusted OIBDA		$	150		75		17		(10)		232


		Six months ended June 30, 2025
		QxH			QVC Int'l		CBI		Corporate and other		Total

		amounts in millions
Net Revenue		$	2,759		1,130		452		—		4,341
Cost of goods sold (exclusive of depreciation and amortization)			1,823		729		256		—		2,808
Gross profit			936		401		196		—		1,533
Operating expense			218		90		19		—		327
Advertising expense			123		18		84		—		225
Selling, general and administrative expense (exclusive of stock-based compensation and advertising)			323		155		80		14		572
Adjusted OIBDA		$	272		138		13		(14)		409


		Three months ended June 30, 2024
		QxH			QVC Int'l		CBI		Corporate and other		Total

		amounts in millions
Net Revenue		$	1,558		576		273		—		2,407
Cost of goods sold (exclusive of depreciation and amortization)			1,007		367		158		—		1,532
Gross profit			551		209		115		—		875
Operating expense			122		45		11		—		178
Advertising expense			63		9		50		—		122
Selling, general and administrative expense (exclusive of stock-based compensation and advertising)			172		78		35		8		293
Adjusted OIBDA		$	194		77		19		(8)		282


		Six months ended June 30, 2024
		QxH			QVC Int'l		CBI		Corporate and other		Total

		amounts in millions
Net Revenue		$	3,097		1,148		504		—		4,749
Cost of goods sold (exclusive of depreciation and amortization)			2,014		733		296		—		3,043
Gross profit			1,083		415		208		—		1,706
Operating expense			247		90		21		—		358
Advertising expense			116		16		93		—		225
Selling, general and administrative expense (exclusive of stock-based compensation and advertising)			341		157		69		15		582
Adjusted OIBDA		$	379		152		25		(15)		541

Schedule of other information by segment


		June 30, 2025
		Total assets			Capital expenditures

		amounts in millions
QxH		$	3,703		49
QVC International			1,899		14
CBI			554		9
Corporate and other			543		—
Consolidated QVC Group		$	6,699		72

Schedule of reconciliation of adjusted OIBDA to operating income and earnings (loss) from continuing operations before income taxes


		Three months ended					Six months ended
		June 30,					June 30,
		2025			2024		2025		2024

		amounts in millions
Adjusted OIBDA		$	232		282		409		541
Stock-based compensation			(4)		(3)		(8)		(19)
Depreciation and amortization			(105)		(96)		(207)		(195)
Impairment of goodwill and intangible assets			(2,395)		—		(2,395)		—
Restructuring costs			—		(18)		(57)		(18)
Gain on sale leaseback transaction			—		—		—		1
Operating income (loss)		$	(2,272)		165		(2,258)		310
Interest expense			(117)		(119)		(229)		(236)
Realized and unrealized gains (losses) on financial instruments, net			(21)		(10)		(36)		(17)
Other, net			(1)		11		9		21
Earnings (loss) before income taxes		$	(2,411)		47		(2,514)		78