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Ferrari third-quarter core earnings rise, but lack of guidance upgrade disappoints

Reuters  |  MILAN 

(Reuters) - third-quarter core earnings rose almost 5 percent, helped by positive performance from across its regions and strong sales of 8-cylinder models but shares fell after the release as some expected an improved full-year guidance.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for July-September period rose to 278 million euros ($316 million) from 266 million, compared with 282 million euros analysts consensus, according to Refinitiv data.

Sales were roughly flat at 838 million euros, slightly below expectations of 845 million euros.

($1 = 0.8795 euros)

(Reporting by Agnieszka Flak; editing by Stephen Jewkes)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 05 2018. 17:33 IST