- Ferrari beat analysts expectations for first-quarter earnings.
- The carmaker also stuck its 2018 financial targets.
Italian luxury carmaker Ferrari confirmed its full-year targets after core earnings rose 14 in the first quarter, driven by a strong performance of its Portofino model.
Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) came in at 311 million euros ($348 million) in the January-March period, Ferrari said on Tuesday.
That is above an average forecast of 284 million euros based on a Reuters poll of analysts.
Ferrari shares rose as much as 4.7 percent on the results.
(Reporting by Giulio Piovaccari, editing by Valentina Za)
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Source: Business Insider –