Lates News

Ferrari announced an increase in profits in the fourth quarter due to optimized product structure and increased demand for customized models, helping the luxury car manufacturer offset the impact of slowed deliveries during model transitions. The company said on Tuesday that net revenue in the fourth quarter rose to 1.8 billion euros (approximately $21.4 billion), exceeding analysts' expectations of 1.77 billion euros. Its profits also surpassed expectations and its outlook for this year exceeded analysts' forecasts. Following the release of the financial report, the company's European stock price rose by 6%.