Sotheby's Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Tax Rate Guidance for the Year 2018
For the year, the company reported total revenue was $989.389 million against $805.377 million a year ago. Operating income was $170.335 million against $122.616 million a year ago. Income before taxes was $141.686 million against $96.734 million a year ago. Net income attributable to company was $118.796 million against $74.112 million a year ago. Diluted earnings per share - company common shareholders were $2.20 against $1.27 a year ago. Adjusted net income was $121.699 million against $99.616 million a year ago. Adjusted diluted earnings per share were $2.25 against $1.71 a year ago.
The company expects effective tax rate to be in the range of 27%, which is still dependent on the mix of earnings among global businesses and any discrete items, as well as further guidance to be issued by the tax authorities.