Qurate Retail, Inc. (NASDAQ: QRTEB) stock soared 9.51% on November 7, 2024, after the company reported better-than-expected third-quarter 2024 financial results.

Highlights of Qurate Retail's Q3 2024 results: - Revenue decreased 5% year-over-year to $2.34 billion, but beat analysts' estimates - Operating income was $152 million, up 1% from the prior year - Adjusted OIBDA decreased 12% to $250 million, but exceeded expectations - QVC segment revenue declined 6%, but operating income increased 18% - QVC International revenue down 1%, with operating income declining 10% - Cornerstone revenue dropped 12% with an operating loss of $2 million

By segment, QVC's performance was driven by higher product margins and lower operating expenses, offsetting a decline in units shipped. QVC International was impacted by higher fulfillment costs and lower product margins. Cornerstone continued to face challenges in the housing sector but is undergoing a transformation plan. Qurate Retail also completed a debt refinancing transaction, extending QVC's maturity profile and reducing overall debt levels. The company remains in compliance with all debt covenants and expects to benefit from its strategic initiatives focused on margin improvement and cash flow generation.