Qurate Retail, Inc. (NASDAQ:QRTEA) Q3 2020 Earnings Conference Call November 5, 2020 8:30 AM ET Company Participants Courtnee Chun - Chief Portfolio Officer Michael George - President, CEO & Director Jeffrey Davis - CFO Gregory Maffei - Executive Chairman Conference Call Participants Eric Sheridan - UBS Investment Bank Oliver Wintermantel - Evercore ISI Edward Yruma - KeyBanc Capital Markets Jason Bazinet - Citigroup Thomas Forte - D.A. Davidson & Co. Steven Litt - 4010 Capital Operator Ladies and gentlemen ...

Financial Performance - Q3 2020 - Revenue reached $3.4 billion, a 10% increase[7] - Adjusted OIBDA was $0.6 billion, up by 24%[7] - E-commerce revenue accounted for $2.1 billion[8] Segment Performance - Q3 2020 - Cornerstone revenue increased by 26%[11] - QVC International revenue increased by 11%, or 8% on a constant currency basis[11] - Zulily revenue increased by 10%[11] QxH Performance - Q3 2020 - QxH revenue increased by 7%[11] - QxH Adjusted OIBDA margin increased by 50 basis points year-over-year to 19.2%[28] Customer Metrics - QxH - Total number of customers increased by 7% year-over-year[22] - New customers increased by 17%[22] - Reactivated customers decreased by 1%[22] Free Cash Flow - Free cash flow for the nine months ended September 2020 was $1.515 billion, compared to $390 million for the same period in 2019[31]

Curated Experiences. Infinite Possibilities.® Q2 2020 Earnings Presentation | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...