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How Will Sotheby's (BID) Stock React to Strong Q2 Earnings Results?

NEW YORK (TheStreet) -- Before Monday's market open, Sotheby's (BID) reported better-than-expected earnings and revenue for the 2016 second quarter.

The New York City-based art company reported adjusted earnings of $1.51 per diluted share, blowing past estimates of $1.05 per share.

Sotheby's generated $298.67 in revenue, higher than estimates of $291.22 million for the quarter.

In 2015, the company earned $1.04 per share on revenue of $332.01 million in revenue.

The year-over-year decline in revenue is attributed to lower sales volumes...


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