Ferrari’s Core Profit Rises 7% In Q3 Supported By Product Mix

Ferrari has announced that its core earnings rose 7% in the third quarter, despite a slight decrease in vehicle shipments, as the luxury sports car maker continued to benefit from a richer product lineup and increased demand for personalization, Giulio Piovaccari reported for Reuters.

Ferrari's EBIDTA matched analysts' average forecast of 635 million euros in a Reuters poll. I Photo: Ferrari Facebook

The Italian company stated in a press release that its adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) reached 638 million euros ($695 million) in the July-September period, matching analysts' average forecast of 635 million euros in a Reuters poll.

Milan-listed shares in the company, which also confirmed the full-year forecasts it provided in August, extended losses after the results were published and were down 3.5% by 11:50 GMT.