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Ferrari Q2 profit climbs 33.6% YOY

Ferrari NV said its normalized net income for the second quarter was 62 euro cents per share, compared with the S&P Capital IQ consensus estimate of 69 cents per share.

EPS increased 33.0% year over year from 47 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €117.6 million, a gain of 33.6% from €88.0 million in the year-earlier period.

The normalized profit margin rose to 12.8% from 10.9% in the year-earlier period.

Total revenue grew 13.5% year over year to €920.4 million from €810.6 million, and total operating expenses climbed 8.3% from the prior-year period to €719.3 million from €664.5 million.

Reported net income increased 39.1% year over year to €136.6 million, or 72 cents per share, from €98.2 million, or 52 cents per share.