Ferrari's Earnings: Shares Surge and Potential Partnership with Lewis Hamilton

Key Points

• Ferrari shares surge nearly 10% after beating analyst expectations in quarterly results.
• Earnings of €1.62 per share and revenue of €1.52 billion surpass StreetAccount estimates.
• Potential partnership with Mercedes F1 driver Lewis Hamilton in 2025 sparks market interest.

Ferrari enthusiasts and investors had reason to celebrate as shares of the luxury car maker surged almost 10% following an impressive quarterly earnings report that outperformed analyst expectations.

The company reported earnings of €1.62 per share, excluding certain items, surpassing the StreetAccount estimate of €1.48 per share. Revenue stood at €1.52 billion, slightly exceeding the projected €1.51 billion. This robust financial performance reflects a successful 2023 for Ferrari, marked by significant achievements that strengthened the brand.

CEO Benedetto Vigna expressed satisfaction with the results, stating, “2023 was a very successful year, during which we strengthened our brand through a number of achievements reflected in our unprecedented financial results. We now have a very important year ahead of us in the execution of our business plan, which continues on schedule along its carefully planned path.”

Aside from financial success, Ferrari made headlines with reports suggesting a potential partnership with Mercedes F1 driver Lewis Hamilton in 2025. Hamilton, a seven-time world champion and one of the most successful drivers in the sport's history, is poised to join the Scuderia. This move adds an extra layer of excitement for Ferrari enthusiasts and motorsport fans alike.

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