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Ferrari beats

Matthew DeBordAug 2, 2016, 19:46 IST

Ferrari reported second-quarter earnings on Tuesday, and they were a beat

Analysts expected $0.45 per share, but the carmaker earned $0.62 (0.55 Euro).

Ferrari is expected to increase production of its pricey luxury cars now that it has been spun off from former parent Fiat Chrysler Automobiles. The legendary Italian brand is subject to fluctuations in global luxury spending, especially in new markets, such as China.

Ferrari shares were trading up slightly on Tuesday, to $46.50.

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