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

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

) 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.

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