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Ferrari Raises 2016 Forecast as Sports Car Sales Help Profit

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Ferrari Races to Record First-Quarter Results

Ferrari NV raised forecasts for 2016 after sales of new sports cars helped profit jump 11 percent in the first quarter, the Italian manufacturer’s first as an independent company.

Adjusted earnings before interest, taxes, depreciation and amortization will total at least 800 million euros ($918 million), Ferrari said Monday in a statement. That compares with an earlier forecast of at least 770 million euros. First-quarter earnings on that basis rose to 178 million euros.

Ferrari, spun off early this year from Fiat Chrysler Automobiles NV, has...