Ferrari Profit Jumps as More Cars Ship
Ferrari Tuesday said profit jumped by almost a third in the second quarter as the Italian luxury sports-car manufacturer sold more vehicles and paid a lower tax rate.
Net profit rose to €97 million ($108 million) in the three months to the end of June from €76 million in the same period last year. Revenue climbed 6% to €811 million as the company shipped 2,214 vehicles, an increase of 8%.
Maranello, Italy-based Ferrari confirmed a forecast to sell about 8,000 cars this year as it generates more than €3 billion euros in revenue and €800 million in adjusted gross operating profit.