Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Operations

v3.26.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Income Statement [Abstract]    
Total revenue, net $ 1,957 $ 2,105
Operating costs and expenses:    
Cost of goods sold (excluding depreciation and amortization shown separately below) 1,288 1,386
Operating expense 146 163
Selling, general and administrative, including stock-based compensation and pre-petition charges 438 383
Depreciation and amortization 80 102
(Gain) loss on sale of assets (10) 0
Restructuring (benefits) costs (note 8) 0 57
Total operating expenses 1,942 2,091
Operating income (loss) 15 14
Other income (expense):    
Interest expense (132) (112)
Realized and unrealized gains (losses) on financial instruments, net (note 4) 79 (15)
Interest and dividend income 12 8
Other, net 1 2
Total other income (expense) (40) (117)
Earnings (loss) before income taxes (25) (103)
Income tax (expense) benefit (15) 12
Net earnings (loss) (40) (91)
Less net earnings (loss) attributable to the noncontrolling interests 7 9
Net earnings (loss) attributable to QVC Group, Inc. shareholders $ (47) $ (100)
Basic net earnings (loss) attributable to Series A and Series B QVC Group, Inc. shareholders per common share (in dollars per share) $ (5.79) $ (12.50)
Diluted net earnings (loss) attributable to Series A and Series B QVC Group, Inc. shareholders per common share (in dollars per share) $ (5.79) $ (12.50)