Q Talk

[They CallMe MRWILKES]

For those with an interest, in summary, the second quarter operationally basically mirrored the first quarter.

An 11% decline in QXH revenue (year over year) and further declines in new and existing customers.  (Note that customer count does not include new customers through Tik-Tok Shop which were substantial.)

Revenue dropped in all categories except, interestingly,  electronics.

To me the biggest take away was a $2.4 billion noncash writedown in trade names, primarily impairment of the HSN brand acquisition, which now has been essentially devalued completely on the balance sheet.

Further details following the earnings call!

[Estellee]

@They CallMe MRWILKES That you for keeping us updated!

[ellaphant]

1. Not surprised. I just saw 3 minutes of H Slatkin talking about pumpkin and apple

picking and changed  the channel. 👎

[longtimeqvcwatcher]

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@They CallMe MRWILKES wrote:

For those with an interest, in summary, the second quarter operationally basically mirrored the first quarter.

An 11% decline in QXH revenue (year over year) and further declines in new and existing customers.  (Note that customer count does not include new customers through Tik-Tok Shop which were substantial.)

Revenue dropped in all categories except, interestingly,  electronics.

To me the biggest take away was a $2.4 billion noncash writedown in trade names, primarily impairment of the HSN brand acquisition, which now has been essentially devalued completely on the balance sheet.

Further details following the earnings call!

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Electronics probably held better because Justin, now being a regular host, is doing less of that. Sarah Cotelesse, Craig Smith, and Bret Hamilton are all good vendors.

[They CallMe MRWILKES]

Portable chargers are a huge category boost, both Halo and Limitless, among others.

[Estellee]

I remember when they sold plenty of computers, not so much anymore.

[Caaareful Shopper]

@They CallMe MRWILKES 

I also thought it interesting that they did not take live questions, only pre-submitted questions.  They knew what they wanted to talk about and what they did not want to address publicly at this time. 

The statement about considering many options to offset these results sounded very ominous, but expected. 

[They CallMe MRWILKES]

Yes!  I was also surprised at no live Q&A.  That's very, very unusual in my experience and, perhaps, telling.

I did like the disclosure of 100,000+ Tik Tok Shop new customers,  which would more than offset the decline in old, deteriorating linear customer viewership. 

[Caaareful Shopper]

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@They CallMe MRWILKES wrote:

Yes!  I was also surprised at no live Q&A.  That's very, very unusual in my experience and, perhaps, telling.

I did like the disclosure of 100,000+ Tik Tok Shop new customers,  which would more than offset the decline in old, deteriorating linear customer viewership. 

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Yes.  I've been listenting to each of these quarterly calls for several years, and this is the first time I can remember no live Q&A. 

[kaydee50]

Will be interesting to see if the "new" Tik Tok customers remain customers.