And the company said it expected to report 2020 earnings at the top of its previous guidance as shipments recovered from a halt in production earlier this year due to the coronavirus pandemic.
The shares at last check were 7% higher near $196.
Ferrari reported earnings of €330 million, roughly $386 million, or about $1.08 a share, compared with €311 million, about $1.05 a share, in the year-earlier period. Analysts cited by Barron's had forecast earnings of 96 cents per share.
Revenue totaled €888 million, or $1.04 billion, down 3% from a year earlier and missing analysts' call for €894 million.
Core business revenue rose 2.6%, the company said, driven by the deliveries of the Ferrari Monza SP1 and SP2.
"The Ferrari Monza SP1 and SP2 continue to be delivered as originally scheduled," the Maranello, Italy, company said in a statement. "Deliveries of the SF90 Stradale and the Ferrari Roma are on track to start in Q4 2020."
Revenue in the engine division was down 4.4% due to the coronavirus pandemic, which resulted in fewer Formula 1 races and corresponding lower revenue accrual, as well as reduced in-store traffic and museum visitors.
Shipments fell 6.5% in the third quarter to 2,313 cars. Ferrari said the figure was in line with a production plan it had set after a seven-week freeze of its operations linked to the first wave of the coronavirus.
Ferrari said it expected to recover about 500 of the roughly 2,000 units lost following its pandemic-related suspension earlier this year.
The company introduced five new models in 2019, including the Roma Coupe with a mid-front-mounted 620-horsepower engine, Bloomberg reported. The new models helped increase annual sales to more than 10,000 units for the first time.
In September, Ferrari debuted its first new model since the coronavirus forced the company to temporarily close much of its operations, unveiling a more powerful Portofino.