Ferrari’s Shares May Have Skidded — But Its Profits Are Still Flying

Profit Tops Forecasts

Ferrari reported net profit of $439.5 million for the July–September period, a nearly 2 percent increase over the same quarter last year and comfortably above analyst expectations of $423 million. The result underscores the resilience of the brand’s business model, which continues to deliver high margins even in a cautious luxury market.

Personalization Options Boost Revenue

The Maranello-based company posted $2.04 billion in net revenue for the third quarter, up 7.4 percent year-on-year. Total shipments reached 3,401 units during this period, reflecting consistent global demand for Ferrari’s lineup. The growth was driven by a stronger product mix and increased personalisation choices, both of which remain key earnings drivers for the automaker.

Management Confident About the Future

Ferrari CEO Benedetto Vigna said the company is advancing “with conviction and strong visibility,” emphasising Ferrari’s clear long-term direction laid out during its recent Capital Markets Day. He noted that the brand has set a defined trajectory “toward 2030,” aimed at sustainable growth supported by product strategy, technology investment and ongoing brand desirability.

The company reaffirmed its upgraded 2025 outlook, maintaining expectations for at least $8.2 billion in net revenues this year, up from its earlier forecast of just over $8.1 billion. The revised guidance reflects an increasingly favourable product mix, strong personalisation demand and lower-than-expected industrial costs in the second half of 2025. This stability in outlook helped reassure markets after recent volatility.

Results Follow Sharp Stock Market Drop

This positive third-quarter performance comes on the heels of Ferrari’s worst-ever trading day. On Oct. 9, shares plunged 15.4 percent, closing at $408, after long-term 2030 guidance fell short of market expectations. It was the automaker’s steepest single-day loss since its Milan stock exchange debut in 2016. Despite the market shock, the latest earnings show Ferrari’s underlying business remains on firm footing, supported by strong pricing, high demand and consistent operational discipline.