RACE - Why Are Luxury Sports Car Maker Ferrari's Shares Raging Today? | Benzinga
Ferrari N.V. (NYSE: RACE) shares are rising after it reported better-than-expected third-quarter FY23 earnings.
RACE reported third-quarter FY23 sales growth of 23.5% year-on-year to $1.681 billion (€1.544 billion), beating the analyst consensus estimate of $1.468 billion.
Cars and spare parts revenue rose 26% Y/Y, and Engines decreased by 33%. Total shipments rose 9% to 3,459 units.
Adjusted EBITDA rose ...