A Ferrari F50 model on display at H.R. Owen Ferrari Atelier, in London, Wednesday, Aug. 2, 2017. Ferrari, which spun off last year from its mass-market parent Fiat Chrysler, said Wednesday net profit for the three months through June was 136 million euros ($161 million), from 97 million euros in 2016. (AP Photo/Caroline Spiezio)
The Associated Press
MILAN (AP) - Sports carmaker Ferrari saw a 39 percent rise in second quarter profits as deliveries continued to grow.
Ferrari, which spun off last year from its mass-market parent Fiat Chrysler, said Wednesday net profit for the three months through June was 136 million euros ($161 million), from 97 million euros in 2016.
Ferrari said the result was boosted by higher sales volumes, up 5 percent to 2,332 vehicles, as well as personalization options on its luxury sports cars.
The group confirmed a 2016 outlook for shipments of around 8,400 units with operating profit above 950 million euros on more than 3.3 billion euros in revenues.
Ferrari shares dropped 2.2 percent to 90.75 euros in Milan, offsetting a rise this week before the earnings and after the Ferrari Scuderia Formula 1 victory.
A Ferrari F50 model on display at H.R. Owen Ferrari Atelier in London, Wednesday, Aug. 2, 2017. Ferrari, which spun off last year from its mass-market parent Fiat Chrysler, said Wednesday net profit for the three months through June was 136 million euros ($161 million), from 97 million euros in 2016. (AP Photo/Caroline Spiezio)
The Associated Press
FILE - In this May 8, 2013 file photo a Ferrari logo is displayed on a engine in the department Ferrari factory in Maranello in Maranello, Italy. Ferrari, which spun off last year from its mass-market parent Fiat Chrysler, said Wednesday, Aug. 2, 2017 net profit for the three months through June was 136 million euros ($161 million), from 97 million euros in 2016. (AP Photo/Marco Vasini, File)
The Associated Press
FILE - In this May 13, 2009 file photo a worker is seen at the Ferrari factory in Fiorano, near Modena, Italy. Ferrari, which spun off last year from its mass-market parent Fiat Chrysler, said Wednesday, Aug. 2, 2017 net profit for the three months through June was 136 million euros ($161 million), from 97 million euros in 2016.(AP Photo/Marco Vasini, File)
The Associated Press