ENGLEWOOD, Colo. (AP) _ Qurate Retail Group, Inc. (QRTEA) on Thursday reported first-quarter net income of $55 million.
On a per-share basis, the Englewood, Colorado-based company said it had net income of 13 cents. Earnings, adjusted for non-recurring costs, were 35 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The online commerce holding company posted revenue of $3.09 billion in the period.
Qurate Retail shares have dropped 15% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $16.60, a decrease of 32% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on QRTEA at https://www.zacks.com/ap/QRTEA