Sotheby’s recently reported earnings that shot past Wall Street expectations, a month ago, on March 1, Sotheby’s told investors that its fourth-quarter profit ballooned 40%, a dramatic jump due to increased auction commission revenue.

The art auctioneer said it raked in earnings of $70.3 million, or $1.09 per share, up from $50.3 million, or 87 cents per share, for the similar period a year ago. Analysts had predicted net income of $1.06 per share.

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Posted: 04|4|07 at 8:07 pm. Filed under: Auction News.