Sotheby's (BID) Tops Q1 EPS by 17c, Sales Miss in Quiet Qtr

Sotheby's (NYSE: BID) reported Q1 EPS of ($0.21), $0.17 better than the analyst estimate of ($0.38). Revenue for the quarter came in at $99.49 million versus the consensus estimate of $111.66 million.

“In this seasonally quiet first quarter, our results improved significantly, reflecting greater confidence in the market", said Tad Smith, Sotheby’s President and Chief Executive Officer, adding, “Looking ahead, we also see signs of strengthening in the consignments for our important upcoming sales of Impressionist, Modern and Contemporary Art in New York that take place next week.”

For earnings history and earnings-related data on Sotheby's (BID) click here.

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