Sotheby’s profit, revenue rise above expectations

on Feb28
by | Comments Off on Sotheby’s profit, revenue rise above expectations |

Sotheby’s

BID, +1.52%

reported Thursday a fourth-quarter profit and revenue that rose above expectations. The stock was still inactive in premarket trade. Net income increased to $85.7 million, or $1.75 a share, from $76.7 million, or $1.44 a share, in the same period a year ago. The FactSet consensus for earnings per share was $1.48. Total revenue grew 11% to $375.1 million, above the FactSet consensus of $336.3 million, as agency commissions and fees rose 7.4% to $338.6 million to top expectations of $301.3 million. For the year, private sales rose 37% and online sales grew 24%. The stock has slipped 0.2% over the past three months while the S&P 500

SPX, -0.05%

has gained 1.8%.

Have breaking news sent to your inbox. Subscribe to MarketWatch’s free Bulletin emails. Sign up here.



Previous postPolitical scandal deepens for Canada’s Justin Trudeau, who’s up for re-election this year Next postDow, S&P 500 set for 3-day skid as Wall Street awaits fourth-quarter GDP


Los Angeles Financial times


Copyright © 2021 Los Angeles Financial times

Updates via RSS
or Email