v3.25.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue:        
Total revenue, net $ 2,236 $ 2,407 $ 4,341 $ 4,749
Type of revenue us-gaap:RetailMember us-gaap:RetailMember us-gaap:RetailMember us-gaap:RetailMember
Operating costs and expenses:        
Cost of goods sold (exclusive of depreciation and amortization shown separately below) $ 1,422 $ 1,532 $ 2,808 $ 3,043
Type of cost of retail sales us-gaap:RetailMember us-gaap:RetailMember us-gaap:RetailMember us-gaap:RetailMember
Operating expense $ 164 $ 178 $ 327 $ 358
Selling, general and administrative, including stock-based compensation (note 2) 422 418 805 826
Depreciation and amortization 105 96 207 195
Impairment of goodwill and intangible assets (note 5) 2,395   2,395  
Restructuring costs (note 9)   18 57 18
Gain on sale leaseback transaction       (1)
Total operating costs and expenses 4,508 2,242 6,599 4,439
Operating income (loss) (2,272) 165 (2,258) 310
Other income (expense):        
Interest expense (117) (119) (229) (236)
Realized and unrealized gains (losses) on financial instruments, net (note 4) (21) (10) (36) (17)
Other, net (1) 11 9 21
Total other income (expense) (139) (118) (256) (232)
Earnings (loss) before income taxes (2,411) 47 (2,514) 78
Income tax (expense) benefit 202 (15) 214 (38)
Net earnings (loss) (2,209) 32 (2,300) 40
Less net earnings (loss) attributable to the noncontrolling interests 13 12 22 21
Net earnings (loss) attributable to QVC Group, Inc. shareholders $ (2,222) $ 20 $ (2,322) $ 19
Basic net earnings (loss) attributable to Series A and Series B QVC Group, Inc. shareholders per common share (note 3): $ (275.46) $ 2.57 $ (289.11) $ 2.38
Diluted net earnings (loss) attributable to Series A and Series B QVC Group, Inc. shareholders per common share (note 3): $ (275.46) $ 2.57 $ (289.11) $ 2.38