Filing Flows › QVC Group (QVCG) › Q1 2026
QVC Group (QVCG) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 15, 2026
QVC Group (QVCG) reported revenue of $1.8B for the first quarter 2026 (Q1 2026), -7% from a year earlier and -27% from the quarter before. Operating margin was 3.2%, net loss $16.0M (0.9% of revenue).
QVC Group, Q1 2026: revenue $1.8B (-7% year over year), operating margin 3.2%, net loss $16.0M, operating cash flow −$98.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.8B | -27% | -7% |
| Operating profit | $56.0M | -59% | +93% |
| Net earnings | −$16.0M | -143% | — |
| Operating cash flow | −$98.0M | -140% | -313% |
What changed
Revenue was $1.8B in Q1 2026, down 7% year over year and down 27% from the previous quarter. Home was the largest line at 41% of revenue. Home lost $0.04B year over year (down 5%), 30% of the total change.
Gross margin was 33.3%, unchanged from Q1 2025. Operating profit was $0.06B, a 3.2% margin (up 1.6 points year over year). Operating expenses fell 12% while revenue fell 7%. The quarter ended with a net loss of $0.02B, after a profit of $0.05B the previous quarter. Net interest and other expense of $0.06B was the main reason.
Operating cash flow was −$0.10B. Non-cash charges added back $0.07B of depreciation and amortization. Working capital and other items used $0.16B. Capital expenditures of $0.03B exceeded it, leaving free cash flow of −$0.13B.
Questions
What was QVC Group's revenue in the first quarter 2026?
QVC Group (QVCG) reported revenue of $1.8B for the first quarter 2026 (Q1 2026), -7% from a year earlier and -27% from the quarter before.
Was QVC Group profitable in the first quarter 2026?
Operating profit was $56.0M (3.2% of revenue) and net loss $16.0M.
Source: QVC Group 10-Q on SEC EDGAR.