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Ferrari: 2Q Earnings Snapshot

August 2, 2019

MARANELLO, Italy (AP) _ Ferrari NV (RACE) on Friday reported second-quarter profit of $206.8 million.

On a per-share basis, the Maranello, Italy-based company said it had net income of $1.09.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.

The luxury sports car maker posted revenue of $1.11 billion in the period.

Ferrari expects full-year earnings in the range of $3.93 to $4.16 per share.

Ferrari shares have increased 64% since the beginning of the year. The stock has risen 38% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RACE at https://www.zacks.com/ap/RACE

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