

wsj_1025

10/26/89


WSJ891026-0031 = 891026 891026-0031.
Business Brief -- Sotheby's Holdings Inc.: @ Third-Period Loss Narrowed @ On Operating Revenue Gain 10/26/89 WALL STREET JOURNAL (J) BID EARNINGS (ERN)



Sotheby's Holdings Inc., the parent of the auction house Sotheby's, said its net loss for the seasonally slow third quarter narrowed from a year earlier on a leap in operating revenue.

The New York-based company reported a third-quarter net loss of $5.1 million, or 10 cents a share, compared with a year-earlier net loss of $6.2 million, or 12 cents a share. Operating revenue surged 54% in the latest period to $42.9 million from $27.7 million.

The company said 80% of its auction business is usually conducted in the second and fourth quarters, with the current quarter having begun " extremely well."































