Investing.com -- Ferrari (NYSE:RACE) stock jumped Tuesday after the luxury sports car manufacturer reported Q4 earnings and revenue that surpassed market expectations.
The company's US-listed shares rose more than 4% in premarket trading.
Ferrari posted Q4 earnings per share (EPS) of €2.14, topping the consensus estimate of €2.02. Revenue for the period totaled €1.74 billion, also ahead of the expected €1.66 billion.
Ferrari’s cars and spare parts revenue reached €1.47 billion, exceeding the €1.4 billion estimate. Sponsorship, commercial, and brand revenue came in at €183 million, also ahead of the €176.1 million forecast.
“Quality of revenues over volumes: I believe this best explains our outstanding financial results in 2024, thanks to a strong product mix and a growing demand for personalizations,” said Benedetto Vigna, CEO of Ferrari.
“On these solid foundations, we expect further robust growth in 2025, that will allow us to reach one year in advance the high-end of most of our profitability targets for 2026,” he added.
For the full fiscal 2025 2025, Ferrari expects EPS of at least €8.60, compared to the consensus projection of €9.00.
The automaker also forecasts revenue of at least €7 billion, compared to analysts' forecast of €7.15 billion.
This content was originally published on Investing.com
