Sotheby's Reveals 21% Gain In Q2 Profit

(RTTNews) - Sotheby's (BID) reported a profit for its second quarter that increased compared to the same period last year.

The company said its bottom line rose to $88.59 million, or $1.51 per share. This was up from $73.06 million, or $1.04 per share, in last year's second quarter.

Analysts had expected the company to earn $1.05 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 10.0% to $298.66 million. This was down from $332.01 million last year.

Sotheby's earnings at a glance:

-Earnings (Q2): $88.59 Mln. vs. $73.06 Mln. last year. -Earnings Growth (Y-o-Y): 21.3% -EPS (Q2): $1.51 vs. $1.04 last year. -EPS Growth (Y-o-Y): 45.2% -Analysts Estimate: $1.05 -Revenue (Q2): $298.66 Mln vs. $332.01 Mln last year. -Revenue Change (Y-o-Y): -10.0%