Sotheby's Q2 adjusted earnings Miss Estimates

(RTTNews) - Sotheby's (BID) revealed earnings for second quarter that declined from last year.

The company's earnings totaled $57.28 million, or $1.08 per share. This compares with $76.89 million, or $1.43 per share, in last year's second quarter.

Excluding items, Sotheby's reported adjusted earnings of $58.06 million or $1.09 per share for the period.

Analysts had expected the company to earn $1.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.7% to $345.64 million from $339.86 million last year.

Sotheby's earnings at a glance:

-Earnings (Q2): $58.06 Mln. vs. $77.53 Mln. last year. -EPS (Q2): $1.09 vs. $1.44 last year. -Analysts Estimate: $1.56 -Revenue (Q2): $345.64 Mln vs. $339.86 Mln last year.