MILAN—Ferrari beat forecasts on May 7 with a 14 percent rise in first-quarter core earnings, boosting its shares on growing expectations the Italian luxury carmaker might soon raise its full-year financial targets.
Milan-listed Ferrari shares rose as much as 5.7 percent on the results, which were driven by strong sales of the 8 cylinder Portofino model and the 812 Superfast among higher-margin 12 cylinder models. The stock closed up 3.9 percent.
