Sotheby's (NYSE: BID) reported earnings on May 10. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), Sotheby's beat expectations on revenues and missed expectations on earnings per share.

Compared to the prior-year quarter, revenue dropped and GAAP earnings per share contracted to a loss.

Margins dropped across the board.

Revenue details
 Sotheby's booked revenue of $105.0 million. The five analysts polled by S&P Capital IQ looked for a top line of $94.9 million on the same basis. GAAP reported sales were 12% lower than the prior-year quarter's $119.6 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at -$0.16. The four earnings estimates compiled by S&P Capital IQ predicted -$0.15 per share. GAAP EPS were -$0.16 for Q1 versus $0.03 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 37.0%, 1,180 basis points worse than the prior-year quarter. Operating margin was -8.3%, 1,750 basis points worse than the prior-year quarter. Net margin was -10.2%, 1,220 basis points worse than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $338.7 million. On the bottom line, the average EPS estimate is $1.62.

Next year's average estimate for revenue is $833.2 million. The average EPS estimate is $2.33.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 534 members out of 573 rating the stock outperform, and 39 members rating it underperform. Among 198 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 189 give Sotheby's a green thumbs-up, and nine give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Sotheby's is outperform, with an average price target of $42.58.

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