Ferrari Beats Earnings Estimates, Hikes Guidance. Why the Stock Is Reversing.

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  • Ferrari Beats Earnings Estimates, Hikes Guidance. Why the Stock Is Reversing.

Ferrari beat earnings expectations in the second quarter and hiked its full-year guidance as demand for its luxury cars remained robust.

But investors were probably hoping for a bigger guidance raise, as the U.S.-listed shares fell 2% in premarket trading.

Ferrari (ticker: RACE) reported adjusted earnings per share (EPS) of 1.83 euros ($2.01)…

Ferrari beat earnings expectations in the second quarter and hiked its full-year guidance as demand for its…

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