Ferrari Q2 Results: Core profit rises 7%, helped by product mix, personal touches

economictimes.indiatimes.com:

Milan-listed shares in the company however extended losses after the results were published, as Ferrari did not upgrade the forecasts for its full-year results it provided in August, including for adjusted EBITDA growing to at least 2.5 billion euros ($2.7 billion).

By 1215 GMT shares were down 3.3%. The shares have risen by more than 40% this year.

Ferrari said in a statement it was now even more confident of hitting its full-year targets.

In the July-September period, the Italian company posted adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of 638 million euros, matching analysts' average forecast of 635 million in a Reuters poll.

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