Sotheby's (BID) Misses Q3 EPS by 16c, Revs Beat

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Sotheby’s Reports Third Quarter 2016 Financial Results

November 7, 2016 7:00 AM EST

NEW YORK, Nov. 07, 2016 (GLOBE NEWSWIRE) -- Sothebys (NYSE: BID) today reported its financial results for the third quarter and nine months ended 30 September 2016.

For the three months ended 30 September 2016, Sothebys reported a net loss of ($54.5) million and diluted loss per share of ($0.99) which compares to ($17.9) million and ($0.26), respectively, a year ago.  Excluding certain acquisition related and other charges, Adjusted Net Loss* for the third quarter of 2016 is ($43.1) million and Adjusted Diluted Loss Per Share* is ($0.78), as compared to ($17.9) million and ($0.26) per share in the third quarter of 2015.

As we communicated previously,... More