✨ Read this must-read post from Business News 📖
📂 **Category**:
📌 **What You’ll Learn**:
In an aerial view, a sign is seen on the outside of a Carvana vending machine on July 19, 2023 in Daly City, California.
Justin Sullivan | Getty Images
shares Carvana It jumped as much as 10% in extended trading after the company reported record first-quarter results that beat Wall Street expectations.
Here’s how the company performed in the first quarter, compared to average estimates compiled by LSEG:
- EPS: $1.69 vs. $1.43 expected
- profit: $6.43 billion versus $6.08 billion expected
The online used car retailer reported adjusted earnings before interest, taxes, depreciation and amortization of $672 million and net income of $405 million, up from $373 million a year earlier.
Carvana reported retail sales of 187,393 units, an increase of 40% compared to the previous year. Its revenues reached $6.43 billion, an increase of 52% over last year.
The company does not issue annual guidance but said it expects a sequential increase in both retail units sold and adjusted EBITDA. During the second quarter, resulting in the company setting records on both metrics.
Carvana shares, which have a market cap of about $87 billion, are down 6% in 2026, but are up about 63% over the past year.
⚡ **What’s your take?**
Share your thoughts in the comments below!
#️⃣ **#Carvana #CVNA #earnings**
🕒 **Posted on**: 1777856825
🌟 **Want more?** Click here for more info! 🌟
