07:15 AM EDT, 05/07/2024 (MT Newswires) -- Ferrari ( RACE ) reported Q1 adjusted earnings Tuesday of 1.95 euros ($2.10) per diluted share, up from 1.62 euros a year earlier.

Analysts polled by Capital IQ expected 1.86 euros.

Net revenue for the quarter ended March 31 was 1.59 billion euros, up from 1.43 billion euros a year earlier.

Analysts surveyed by Capital IQ expected 1.55 billion euros.

The company said it continues to expect 2024 adjusted earnings of at least 7.50 euros per diluted share. Analysts polled by Capital IQ expect 7.77 euros.

Net revenue for the year is still expected to be more than 6.40 billion euros. Analysts surveyed by Capital IQ expect 6.50 billion euros.

Shares of the company were down more than 4% in recent Tuesday premarket activity.

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