DETROIT — Ferrari on Tuesday beat Wall Street's first-quarter earnings expectations and reconfirmed its guidance for the year, weeks ahead of the sports car maker revealing its first all-electric vehicle.
Here's how the company performed in the first quarter compared with average estimates compiled by LSEG:
- Earnings per share: 2.33 euros (US $2.72) adjusted vs. 2.27 euros expected
- Revenue: 1.8...
The timing of the earnings report preceding the unveiling of the first electric vehicle suggests a strategic attempt to frame innovation within established luxury performance narratives. The narrative successfully blends traditional success (beating expectations) with disruptive future (the EV launch) to manage investor perception. The slowdown in deliveries, linked to a "planned model change-over," indicates operational friction, suggesting that innovation is not purely a smooth transition but ...