Ferrari reported first-quarter earnings in Thursday.
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Ferrari is on a tear (RACE)
Over the last 12 months the carmaker, which was spun off from Fiat Chrysler Automobiles in a 2015 IPO, has seen its stock rise over 70%.
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The results, according to Reuters, were a "better-than-expected 36 percent rise."
Ferrari made 242 million euros in Q1, "above a Thomson Reuters SmartEstimate consensus of 222 million euros," Reuters said.
The topline was 821 million euros, which came in above expectations of 767 million euros.
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Reuters said that Ferrari was "helped by sales of its 12 cylinder models such as the GTC4Lusso and the newly-launched LaFerrari Aperta hybrid convertible."
Ferrari shares were up 3% in pre-market action on Thursday, to $79. (Ferrari reports in euros but is traded in US dollars on the NYSE.)
Over the last 12 months the carmaker, which was spun off from Fiat Chrysler Automobiles in a 2015 IPO, has seen its stock rise over 70%, making it the best performer in the sector. It is even outpacing Tesla, which has seen a huge rally in its own shares since the beginning of 2017.
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