QVC INC
For the period ended Dec 31, 2025. Filed Apr 15, 2026.
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FY2025 · Filed Apr 15, 2026
QVCG$8.08+7.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
| (in millions) | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total revenue, net | $8,293 | 8,997 | 9,449 |
| Operating costs and expenses: | |||
| Cost of goods sold (exclusive of depreciation and amortization shown separately below) | 5,505 | 5,905 | 6,273 |
| Operating expense | 637 | 693 | 739 |
| Selling, general and administrative, including stock-based compensation | 1,356 | 1,321 | 1,403 |
| Depreciation and Amortization | 369 | 351 | 372 |
| Impairment of intangible assets (note 6) | 930 | 578 | — |
| Impairment of goodwill (note 6) | 1,465 | 902 | 326 |
| Gains on sales of assets and sale leaseback transactions | (5) | (1) | (113) |
| Restructuring, penalties and fire related costs, net of (recoveries) (note 12) | 53 | 18 | (196) |
| 10,310 | 9,767 | 8,804 | |
| Operating (loss) income | (2,017) | (770) | 645 |
| Other (expense) income: | |||
| Interest expense | (286) | (267) | (247) |
| Interest income | 35 | 16 | 19 |
| Other (expense) income | (12) | 2 | (1) |
| (263) | (249) | (229) | |
| Earnings (loss) before income taxes | (2,280) | (1,019) | 416 |
| Income tax (expense) benefit | 153 | (3) | (205) |
| Net earnings (loss) | (2,127) | (1,022) | 211 |
| Less: net (earnings) loss attributable to the noncontrolling interest | (41) | (47) | (52) |
| Net earnings (loss) attributable to QVC, Inc. stockholder | $(2,168) | (1,069) | 159 |
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