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Every Picasso sold, many going for double their estimates in a sale that totaled $32 million.
The forecast was based on the median of 29 estimates in a Bloomberg News survey.
Analysts expected sales of $429.8 million, the average of 22 estimates in a Thomson Financial survey.
Analysts had predicted a profit of 3 cents, the average of estimates in a Bloomberg survey.
Economists forecast wholesale inventories would rise 0.6percentt, according to the median of 35 estimates in a Bloomberg News survey.
Economists projected a 0.8 percent decrease, according to the median of 52 estimates in a Bloomberg News survey.
Analysts expected earnings of 3 cents a share, the average of 17 estimates in a Bloomberg survey.
Gemstar, which is based in Los Angeles, was expected to break even on a per-share basis, the average of five estimates in a Thomson Financial survey.
Economists had forecast that wholesale inventories would rise 0.4percentt, according to the median of 29 estimates in a Bloomberg News survey.
Economists had forecast a 0.2percentt drop in March industrial production, according to the median of 68 estimates in a Bloomberg News survey.
Analysts expected a profit of 18 cents a share in the current quarter, the average of 11 estimates in a survey by Thomson First Call.
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