By David Sachs


Ferrari's profit and revenue jumped in the first quarter as a favorable mix and customization sales offset flat car shipments.

The Italian ultra-luxury sports-car maker said Tuesday that aftertax profit rose 19% on year to 352 million euros ($379.1 million). Analysts had forecast aftertax profit at EUR334.3 million, according to the Visible Alpha consensus.

Ferrari's net revenue finished the period at EUR1.585 billion, jumping 11% and beating the Visible Alpha consensus of EUR1.57 billion. Shipments fell by seven vehicles, the carmaker said.

The company's earnings before interest and taxes margin--a key metric for the high-end carmaker-- was 27.9% compared with 26.9% a year prior.

Ferrari backed its full-year guidance.


Write to David Sachs at david.sachs@wsj.com


(END) Dow Jones Newswires

05-07-24 0712ET