Ferrari Reports 10.9% Increase in Q1 Revenue to €1.6 Billion

Ferrari NV announced on Tuesday that its net revenue for the first quarter of 2024 reached €1.6 billion, a 10.9% increase from the same period in 2023. Net profit rose 19% year-on-year to €352 million, while diluted earnings per share (EPS) increased 20% to €1.95. Shipments remained steady at 3,560 units compared to the previous year. The company reaffirmed its 2024 forecast, projecting net revenue above €6.4 billion and EPS of at least €7.50.