Ferrari N.V. (NYSE:RACE) shares climbed more than 9% on Tuesday after the company reported first-quarter revenue of €90 million, supported by organic growth of 7.4% compared with the same period last year.
The group said performance was driven by strong contributions from subsidiaries in Brazil, the United States and the United Arab Emirates, while Asian operations continued to face pressure due to ongoing weakness in the Chinese market.
Ferrari also noted that newly launched hubs in Saudi Arabia and Vietnam generated revenue during the quarter, while operations established earlier — including Botswana, which opened in 2024 — have evolved into stable contributors to the business.
Analysts at Goldman Sachs Group, Inc. described the trading update as “in line with our expectations.”
The company reaffirmed its full-year guidance, forecasting revenue growth of between 3% and 6% at constant exchange rates, while expecting its adjusted EBITDA margin to remain broadly stable compared with the 26% recorded in 2025.