Ferrari trims full-year outlook after earnings skid in second quarter

) trimmed its full-year earnings forecast on Monday after second-quarter income plunged due to supply chain and production disruptions during the coronavirus pandemic.

Analysts at Morgan Stanley said given the circumstances second-quarter results were strong from the company, maker of high performance models such as the F8 Spider, the 1,000 horse power SF 90 Stradale hybrid and top-selling Portofino grand tourer. The company said sales had been hit by production suspensions and significantly lower sponsorship and commercial and brand revenues due to the pandemic.

Or no one is renting a Ferrari to show off on Ocean Drive after Sunday brunch at Nikki Beach.

I’ll take some of that inventory off of their hands 👀🤷‍♂️

They blame the white elitist for not buying as many Ferraris as prior years

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Source: CNBC - 🏆 12. / 72 Read more »