Auctioneer Sotheby's (BID) Thursday reported first-quarter net loss of $22 million or $0.33 per share, compared with net loss of $10.7 million or $0.16 per share last year.
Revenues for the quarter slid 3% to $101.7 million $105 million in the prior year, hurt by a decline in auction commission margin to 15% from 18%.
Analysts polled by Thomson Reuters estimated a loss of $0.12 per share on revenues of $116.90 million for the quarter. Analysts' estimates typically exclude special items.
Results were also impacted by total expenses that escalated to $123 million from $113.7 million a year ago.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.