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

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Sotheby’s Reports First Quarter 2017 Financial Results

May 10, 2017 7:00 AM EDT

NEW YORK, May 10, 2017 (GLOBE NEWSWIRE) -- Sothebys (NYSE: BID) today reported its financial results for the first quarter ended March 31, 2017. 

For the three months ended March 31, 2017, Sothebys reported a net loss of ($11.3) million, or ($0.21) per diluted share, representing a $14.6 million (56%) or $0.20 per diluted share (49%) improvement when compared to the same period in the prior year.  After excluding certain charges in the prior year period, Adjusted Net Loss* improved $9.6 million (46%) from ($21) million in 2016 to ($11.4) million in 2017 and Adjusted Diluted Loss Per Share* improved $0.12 (36%) from ($0.33) to ($0.21).

The improvement in first quarter... More