Sotheby's beats by $0.18, beats on revs :
- Reports Q4 (Dec) earnings of $1.35 per share, excluding non-recurring items, $0.18 better than the Capital IQ Consensus of $1.17; revenues fell 8.1% year/year to $308.69 mln vs the $271.89 mln Capital IQ Consensus.
- "These results reflect growing confidence in the market as collectors responded enthusiastically to the great collections and works we secured for sale. Even more importantly, the quarter demonstrated that when the market stabilizes, let alone when it returns to its secular growth trajectory, our company is poised to capitalize on the upturn and do very well for our shareholders."
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