Ferrari: 2Q Earnings Snapshot
Posted Aug 3, 2020 09:20:40 AM.
Last Updated Aug 3, 2020 09:24:07 AM.
MARANELLO, Italy (AP) _ Ferrari NV (RACE) on Monday reported second-quarter net income of $9.9 million.
The Maranello, Italy-based company said it had profit of 4 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The luxury sports car maker posted revenue of $628.6 million in the period.
Ferrari expects full-year earnings in the range of $2.86 to $3.08 per share.
Ferrari shares have risen roughly 10% since the beginning of the year. The stock has climbed 11% 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
The Associated Press
