Global site navigation

Ferrari sales, earnings guidance shift higher
Business and Economy

Ferrari sales, earnings guidance shift higher

by  AFP 1 min read
Ferrari's order book is nearly fully complete
Ferrari's order book is nearly fully complete. Photo: Fabrice COFFRINI / AFP/File
Source: AFP

PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find “Recommended for you” block on the home page and enjoy!

Italian luxury sports car manufacturer Ferrari said Wednesday it had raised its 2022 earnings guidance after posting double-digit gains in sales and earnings.

The firm with the prancing horse logo reported a net profit of 228 million euros ($225 million) for the third quarter, an increase of 10 percent from the July-September period last year.

That beat the 216 million euros analyst consensus compiled by financial data provider FactSet.

Sales rose by 19 percent to 1.25 billion euros.

Ferrari also managed to avoid the supply chain problems that have plagued other automakers, posting a 16 percent increase in deliveries to 3,188 vehicles.

Chief executive Benedetto Vigna said "all these lead us to revise upward our 2022 guidance on all metrics."

Read also

Uber reaches 615 mn pound tax settlement with Britain

PAY ATTENTION: Click “See First” under the “Following” tab to see YEN.com.gh News on your News Feed!

It now expects approximately five billion euros in sales revenue and 1.73 billion euros in operating profits.

"Today, we continue to manage an outstanding order book: with the exception of few models, our entire range is sold out," added Vigna.

Source: AFP

Authors:
AFP avatar

AFP AFP text, photo, graphic, audio or video material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. AFP news material may not be stored in whole or in part in a computer or otherwise except for personal and non-commercial use. AFP will not be held liable for any delays, inaccuracies, errors or omissions in any AFP news material or in transmission or delivery of all or any part thereof or for any damages whatsoever. As a newswire service, AFP does not obtain releases from subjects, individuals, groups or entities contained in its photographs, videos, graphics or quoted in its texts. Further, no clearance is obtained from the owners of any trademarks or copyrighted materials whose marks and materials are included in AFP material. Therefore you will be solely responsible for obtaining any and all necessary releases from whatever individuals and/or entities necessary for any uses of AFP material.

Hot: