Sotheby's Increased Expenses Kill Earnings Growth Despite Strong Sales - Presented by: The Aol. On Network

Sotheby's had a series of highly profitable auctions this quarter but the increased expenses are killing their ability to grow their bottom line. Earnings of $1.11 were shy of estimates by 20 cents a share and short of the $1.33 it earned in the same period last year. Revenue of $336 million was below estimates but was $30 million higher than sales in the prior year's quarter. Hong Kong and London markets were the two big reasons behind the increased revenue.



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