July 14, 2024
Carvana’s stock jumps 25% after narrower quarterly loss for online used-car retailer

Carvana’s stock jumps 25% after narrower quarterly loss for online used-car retailer

Shares of Carvana Co. rallied 25% in the aftermarket Thursday after the online used-car company narrowed a quarterly loss and said it expects to reach positive adjusted EBITDA in the current quarter.

Carvana CVNA lost $286 million, or $1.51 a share, in the first quarter, compared with a loss of $506 million, or $2.89 a share, in the year-ago quarter. Revenue dropped 25% to $2.61 billion but was at the top of a previous guidance range.

FactSet…

Source

Leave a Reply

Your email address will not be published. Required fields are marked *