Sotheby's (BID) Tops Q1 EPS by 11c

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Go back to Sotheby's (BID) Tops Q1 EPS by 11c

Sotheby's Reports First Quarter 2015 Financial Results

May 11, 2015 7:00 AM EDT

127% Increase in First Quarter 2015 Adjusted Operating Income* to $22.2 Million   First Quarter 2015 Adjusted Net Income* of $7.4 Million. Increase from First Quarter 2014 Adjusted Net Loss* of ($3.0) Million

NEW YORK, May 11, 2015 (GLOBE NEWSWIRE) -- Sotheby's (NYSE: BID) today reported financial results for the first quarter ended 31 March 2015.

For the three months ended 31 March 2015, Sotheby's reported Adjusted Operating Income* of $22.2 million, an increase of $12.4 million (127%) over the prior year, principally due to an 8% increase in auction commission revenues, attributable to improved auction commission margins, and 3% growth in Net Auction Sales.... More