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Ferrari: Q1 Earnings Snapshot

May 4, 2021 GMT

MARANELLO, Italy (AP) _ Ferrari NV (RACE) on Tuesday reported first-quarter profit of $247.1 million.

On a per-share basis, the Maranello, Italy-based company said it had net income of $1.34.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.

The luxury sports car maker posted revenue of $1.22 billion in the period.

Ferrari shares have declined 5% since the beginning of the year. The stock has increased 46% 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