HomeBusinessFerrari finishes a record year by topping Wall Street's estimates

Ferrari finishes a record year by topping Wall Street’s estimates

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Car key for the Ferrari Purosangue SUV.

Adam Jeffery | CNBC

Luxury sports car manufacturer Ferrari topped Wall Street’s top- and bottom-line earnings expectations for the fourth quarter to finish off a record year of profits.

The automaker reported a net profit of 1.26 billion euros, or $1.36 billion, for 2023, including 294 million euros, or $317.9 million, during the fourth quarter. Its adjusted earnings before interest and taxes, or EBIT, was 1.62 billion euros, or $1.75 billion, for the year, including 372 million euros, or $402.3 million, in the last quarter. Both were yearly records for the company.



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