By market close, shares had taken off 6.7% to $47.01.
The auction house reported net income of $1.30 a share in the three months to December. Analysts surveyed by Thomson Reuters had anticipated $1.40 a share.
Revenue of $339.2 million was 16.5% higher than a year earlier but missed consensus by $12.4 million.Must Read: Ukraine Won't Become a Cold War Throwback STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreet Ratings team rates SOTHEBY'S as a Buy with a ratings score of B-. The team has this to say about their recommendation: "We rate SOTHEBY'S (BID) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, increase in net income, good cash flow from operations and growth in earnings per share. We feel these strengths outweigh the fact that the company shows low profit margins."
- You can view the full analysis from the report here: BID Ratings Report
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts