QVC Group said its normalized net income for the fourth quarter amounted to 41 cents per share, compared with the S&P Capital IQ consensus estimate of 50 cents per share.

EPS declined 5.6% year over year from 43 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $205.4 million, a decrease from $208.0 million in the year-earlier period.

The normalized profit margin fell to 7.4% from 7.5% in the year-earlier period.

Total revenue rose 16.0% on an annual basis to $3.23 billion from $2.78 billion, and total operating expenses grew 21.6% on an annual basis to $2.84 billion from $2.34 billion.

Reported net income totaled $222.6 million, or 44 cents per share, compared to $223.8 million, or 46 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled $1.23 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.52.

EPS rose 11.6% from $1.10 in the prior year.

Normalized net income was $590.4 million, a rise of 9.1% from $541.0 million in the prior year.

Full-year total revenue fell 8.6% on an annual basis to $9.17 billion from $10.03 billion, and total operating expenses declined 9.3% on an annual basis to $8.00 billion from $8.82 billion.

The company said reported net income rose 19.3% on an annual basis to $639.7 million, or $1.33 per share, in the full year, from $536.3 million, or $1.09 per share.