Sotheby's Q4 adjusted earnings Beat Estimates

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

The company's profit came in at $85.71 million, or $1.72 per share. This compares with $76.71 million, or $1.43 per share, in last year's fourth quarter.

Excluding items, Sotheby's reported adjusted earnings of $86.75 million or $1.74 per share for the period.

Analysts had expected the company to earn $1.48 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.9% to $375.15 million from $338.20 million last year.

Sotheby's earnings at a glance:

-Earnings (Q4): $86.75 Mln. vs. $79.07 Mln. last year. -EPS (Q4): $1.74 vs. $1.47 last year. -Analysts Estimate: $1.48 -Revenue (Q4): $375.15 Mln vs. $338.20 Mln last year.