Sotheby's Swings To Q1 Profit - Quick Facts

(RTTNews) - Auction house Sotheby's (BID) reported first-quarter net income attributable to Sotheby's of $5.20 million or $0.07 per share, compared to a net loss of $6.11 million or $0.09 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $7.42 million or $0.11 per share, compared to an adjusted net loss of $2.98 million or $0.04 per share in the year-ago quarter.

On average, six analysts polled by Thomson Reuters expected the company to report breakeven results for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter edged down to $155.68 million from $156.81 million in the same quarter last year. Analysts expected revenue of $151.73 million for the quarter.