Ferrari boosts full-year guidance after posting strong quarterly results

Ferrari NV (NYSE: RACE) raised its full-year guidance after reporting better-than-expected quarterly results on Tuesday.

The luxury carmaker, which has mostly remained unaffected by supply chain issues, now expects earnings per share between 4.80 euros and 4.90 euros ($4.89 and $4.99) for the full year, on revenue of roughly 4.9 billion euros.

Ferrari had earlier forecasted earnings per share to fall between 4.55 euros and 4.75 euros, on revenue of about 4.8 billion euros.

In the second quarter, the automaker posted revenue of 1.29 billion euros, compared to 1.04 billion euros in the second quarter of 2021.