QVC Group A 2025 Q3 Earnings Sharp Earnings Decline with 386.7% Widened Net Loss

QVC Group A (QVCGA) reported fiscal 2025 Q3 earnings on Nov 6, 2025, with results far below expectations. Revenue fell 5.6% year-over-year, and the company posted a $73 million net loss, a 386.7% increase from the prior year. CEO David Rawlinson highlighted progress in the WIN growth plan but acknowledged ongoing challenges from deleveraging, tariffs, and investment costs. Guidance remains non-specific, emphasizing strategic navigation of headwinds without numerical targets.

Revenue

QVC Group A’s total revenue declined to $2.21 billion in 2025 Q3, a 5.6% drop from $2.34 billion in 2024 Q3. The QxH segment saw a 7% revenue decline driven by reduced units shipped and lower shipping revenue, while QVC International revenue fell 1% in USD and 5% in constant currency due to currency fluctuations and lower average selling prices. Cornerstone revenue dropped 8%, primarily from reduced units shipped in home and apparel categories.

Earnings/Net Income

The company’s losses deepened to $9.89 per share in 2025 Q3, a 16,383.3% wider loss compared to $0.06 per share in 2024 Q3. Net loss expanded to $73 million, a 386.7% increase from $15 million a year ago. The EPS and net income figures reflect a significant deterioration in profitability.

Post-Earnings Price Action Review

The stock price of QVCGA dropped 9.36% on the earnings release date, signaling a negative market reaction. Over the next 30 days, the decline continued with an additional 6.85% drop, underscoring persistent downward pressure. The sustained sell-off suggests the market’s expectations were not met, despite the revenue raise, as broader economic and strategic uncertainties overshadowed the results.

CEO Commentary

David Rawlinson noted early progress in the WIN growth plan, including reduced revenue declines in QxH due to social and streaming platform growth. He acknowledged pressures from deleveraging, tariffs, and investments but expressed cautious optimism about strategic initiatives.

Guidance

The company did not provide specific numerical guidance for future periods. Instead, it emphasized navigating deleveraging, tariff impacts, and investment costs while advancing the WIN strategy to offset linear TV declines with digital growth.

Additional News

1. Reverse Stock Split: QVC Group executed a 1-for-50 reverse stock split on May 22, 2025, to regain Nasdaq compliance. The move reduced shares outstanding for Series A and B stock.

2. WIN Strategy Progress: CEO Rawlinson highlighted reduced QxH revenue declines in 2025 Q3, driven by growth in social and streaming platforms despite linear TV challenges.

3. TikTok Partnership: QVC hosted its first TikTok Shop Super Brand Day on May 14, 2025, featuring 8-hour livestreams with Q50 ambassadors and celebrity-led content.

Image: QVC Group’s 2025 Q50 Ambassadors during the TikTok Shop Super Brand Day.