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Ferrari Q3 profit climbs 47.5% YOY

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Ferrari Q3 profit climbs 47.5% YOY

Ferrari NV said its normalized net income for the third quarter amounted to 45 euro cents per share, an increase of 47.5% from 30 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €84.7 million, a gain of 47.5% from €57.4 million in the prior-year period.

The normalized profit margin rose to 11.7% from 8.7% in the year-earlier period.

Total revenue grew 9.2% on an annual basis to €723.1 million from €662.5 million, and total operating expenses increased on an annual basis to €587.5 million from €573.2 million.

Reported net income grew 66.0% from the prior-year period to €94.0 million, or 50 cents per share, from €56.6 million, or 30 cents per share.