Mexican Media Brands
Ferrari’s Quarterly Profit Jumps 19% to Record High
Net profits for Ferrari NV climbed 19% to a record €78 million ($90 million) in January-March, the supercar company’s first quarter as an independent company.
#economics
Share
Net profits for Ferrari NV climbed 19% to a record €78 million ($90 million) in January-March, the supercar company’s first quarter as an independent company.
Revenue for the period grew 9% to €675 million ($778 million). Unit sales rose 15% to 1,882 cars, led by gains of 24% in Europe and the Middle East and 16% in China.
Ferrari raised its full-year guidance for earnings before interest, taxes, depreciation and amortization to at least €800 million from a previous forecast of €770 million. The company expects to ship more than 7,900 cars and generate about €3 billion ($3.5 billion) in revenue, up about €100 million from its previous estimate.
RELATED CONTENT
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.