Ferrari Reported a Strong First Quarter, but Postponed Its 2022 Profit Target
Ferrari (NYSE: RACE) said that its first-quarter profit rose 23% from a year ago, that its order book is at record levels despite the COVID-19 pandemic, and that it now expects its full-year results to hit the high end of its 2021 guidance.
But the company also said it is postponing its ambitious 2022 financial targets for a year because of its decision to reduce spending in the early stages of the pandemic.
Ferrari records revenue for three business units, plus a catch-all category it calls "other." Here's a look at how each performed in the first quarter of 2021.
Source Fool.com
