Sotheby's Announces Unaudited Consolidated Financial Results for the Quarter and Six Months Ended June 30, 2018; and Provides Financial Guidance for the Third and Fourth Quarter of 2018
For six months, the company reported total revenues of $541,432,000 against $539,168,000 a year ago. Operating income was $90,737,000 against $100,097,000 a year ago. Income before taxes was $62,413,000 against $88,604,000 a year ago. Net income was $50,751,000 against $65,561,000 a year ago. Net income attributable to Sotheby's was $50,760,000 against $65,566,000 a year ago. Diluted earnings per share - Sotheby's common shareholders were $0.95 against $1.21 a year ago.
The company provided financial guidance for the third and fourth quarter of 2018. The company is focusing on big fourth quarter sales.
The company had an unusual $0.14 per share tax benefit in last year's third quarter that won't be repeated this year.