Sotheby's Q2 Profit Retreats 14%

(RTTNews) - Sotheby's (BID) released earnings for second quarter that lost ground compared to the same period last year.

The company said its earnings declined to $76.89 million, or $1.43 per share. This was down from $88.93 million, or $1.52 per share, in last year's second quarter.

Analysts had expected the company to earn $1.51 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 5.4% to $314.90 million. This was up from $298.67 million last year.

Sotheby's earnings at a glance:

-Earnings (Q2): $76.89 Mln. vs. $88.93 Mln. last year. -Earnings Decline (Y-o-Y): -13.5% -EPS (Q2): $1.43 vs. $1.52 last year. -EPS Decline (Y-o-Y): -5.9% -Analysts Estimate: $1.51 -Revenue (Q2): $314.90 Mln vs. $298.67 Mln last year. -Revenue Change (Y-o-Y): 5.4%