Sotheby's Q4 Profit Rises, Beats View - Quick Facts

(RTTNews) - Sotheby's (BID) on Thursday reported a 12 percent increase in profit for the fourth quarter from last year on a double-digit increase in revenues. Adjusted earnings for the quarter beat analysts' expectations.

Net income attributable to Sotheby's for the fourth quarter rose to $85.71 million or $1.72 per share from $76.71 million or $1.43 per share in the year-ago period.

Excluding items, adjusted earnings for the quarter were $1.74, compared to $1.47 per share in the prior-year quarter.

Total revenues for the quarter grew 10.9 percent to $375.15 million from $338.20 million in the same period last year.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.48 per share for the quarter on revenues of $336.09 million. Analysts' estimates typically exclude special items.