Ferrari Continues to Wow Investors With Steady Performance and New Cars
With its second-quarter 2019 release, Ferrari (NYSE: RACE) delivered another strong quarter of financial results. The company met quarterly expectations and confirmed its financial guidance for the year.
However, the strong results were overshadowed by the discussion of Ferrari's two new models, including the company's first hybrid car.
Ferrari reported an increase in car shipments and revenue, driven by continued strong demand for its Portofino and 812 Superfast models. The Portofino, introduced last year, has a V-8 engine and has been praised by Ferrari buyers and critics alike. Revenue was also bolstered by an increase of 2 million euros in brand sponsorship activities -- primarily from professional racing.
Source Fool.com
