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Thursday, March 1, 2018

-=Sotheby's (BID) reported earnings on Wed 28 Feb 2018 (a/h)

Sotheby's beats by $0.15, beats on revs 
  • Reports Q4 (Dec) earnings of $1.47 per share, excluding non-recurring items, $0.15 better thanthe Capital IQ Consensus of $1.32; revenues rose 2.2% year/year to $315.56 mln vs the $306.7 mln Capital IQ Consensus.
  • Aggregate Auction Sales of Contemporary Art and Impressionist and Modern Art improved 29% and 33%, respectively, from 2016 to 2017.
  • Board of Directors approves $100 millionincrease to share repurchase authorization, resulting in an updated share repurchase authorization of $196 million as of today.

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