Qurate Retail Reports 81% Decline in Profit in Q2 Earnings
Q2 Revenue Drops by 9% for Qurate Retail Despite Cost Management Efforts
Qurate Retail, Inc. [QRTEA] reported a net profit of $20 million for the second quarter ending June 30, 2024. This represents a significant decrease from the previous quarter's profit of $107 million.
The company, headquartered in Englewood, Colorado, has filed with SEC an 8-K earnings report.
Qurate Retail, a prominent player in the retail sector, reported revenue of $2.4 billion. This figure reflects a 9% decrease from the previous quarter, highlighting the challenging market conditions the company navigated during the period.
In comparison to the same quarter in the previous year, Qurate Retail experienced a 9% decrease in revenue, signaling challenges in the retail landscape. Additionally, the company saw an 81% decline in profit for the current quarter compared to the same period in the previous year.
