Ferrari revved up financial results, investors wanted more

Ferrari reported very strong financial results, but evidently left investors wanting more.

The luxury sports-car maker’s first quarter financials included double-digit revenue and profit growth, but lacked a parrel upgrade to Ferrari’s full year projections.

Investors will have to wait for future updates in hope of upside it seems.

Ferrari reported adjusted earnings of €605 million over the three months to March, whilst margins improved to 38.2% from 37.6%, and it banked €1.59 billion of quarterly revenue.

That came despite shipping fewer cars, as there were seven fewer deliveries in the period, with the tally standing at 3,560 supercars for the three months.

Chief executive Benedetto Vigna highlighted the success of Ferrari’s ‘value over volume’ strategy.

Market analysts, meanwhile, described the financial performance as “high quality”.

Ferrari stock gave up nearly 5%, losing €18.80 per share to a €378.80 close in Milan.