Ferrari posted record earnings for 2024, with net profit climbing 21% from the previous year. The luxury automaker attributed its strong performance to a favorable product mix and rising demand for vehicle personalizations. Ferrari anticipates further growth in 2025, projecting a 5% revenue increase and a similar rise in adjusted core earnings. CEO Benedetto Vigna highlighted the company’s focus on revenue quality over volumes and expressed confidence in achieving high-end profitability targets ahead of schedule. Shares in Milan jumped over 3% on the news, and U.S. shares were last seen 3% higher.
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00:00It's Benzinga bringing Wall Street to Main Street. Ferrari posted record earnings for
00:042024 with net profit climbing 21% from the previous year. The luxury automaker attributed
00:10its strong performance to a favorable product mix and rising demand for vehicle personalizations.
00:15Ferrari anticipates further growth in 2025 projecting a 5% revenue increase and a similar
00:20rise in adjusted core earnings. CEO Benedetto Vigna highlighted the company's focus on the
00:26quality over revenue volumes and expressed confidence in achieving high-end profitability
00:31targets ahead of schedule. Shares in Milan jumped over 3% on the news and U.S. shares
00:36were last seen at 3% higher. For all things money visit benzinga.com slash gstv