MERIDIAN (dpa-AFX) - Liberty Interactive Corporation, (LMDIA, LINTA), which engages in video and on-line commerce businesses, Wednesday reported an increase in revenues for the first quarter, driven by growth at QVC combined with favorable results at the eCommerce companies.
For the three-month period, Total Liberty Interactive Group revenue was $2.43 billion, a 5 percent increase from $2.31 billion during the same period last year. Analysts expected the firm to report revenues of $2.38 billion.
The company attributed the higher revenues to 2% growth at QVC combined with favorable results at the eCommerce companies, driven by the Easter holiday falling during the first quarter of 2013, increased marketing efforts driving additional traffic, greater conversion resulting from investments in site optimization, increased shipping charges, and broader inventory offerings.
Total Liberty Interactive Group operating income remained relatively flat at $260 million. Adjusted OIBDA increased 4 percent to $437 million, due to the revenue growth at QVC and the eCommerce companies, but was offset by unfavorable foreign currency exchange rates.
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