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Ferrari Profits Jump 24%
Ferrari NV reports that its third-quarter revenue grew 7% to €836 million ($974 million), and its adjusted net profit climbed 24% to €141 million ($164 million).
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Ferrari NV reports that its third-quarter revenue grew 7% to €836 million ($974 million), and its adjusted net profit climbed 24% to €141 million ($164 million).
Results were driven primarily by surging demand for the company’s V-12-powered sport coupes. Revenue also was aided by new models and price increases.
Ferrari’s adjusted earnings before interest and taxes climbed 24% to €202 million ($235 million). The company shipped 2,046 cars in July-September, up 68 units from the same period in 2016.
Ferrari raised its full-year outlook to unit sales of 8,400 vehicles and €3.4 billion in net revenue. Ferrari also expects this year to achieve its goal of €1 billion in annual earnings before interest, tax, depreciation and amortization.
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