Pursuits
Sotheby’s Profit Beats Forecasters as Art Market Bounces Back
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Sotheby’s second-quarter earnings were seven times that of a year ago as sales surged amid renewed confidence in art as an investment.
Net income was $86.2 million, or $1.26 a share, up from $12.2 million, or 18 cents a share, in 2009, the company said in a statement. Second-quarter revenue jumped 68 percent to $281.4 million.