Reported 26 days ago
Carvana's shares jumped significantly after the company reported better-than-expected quarterly results, driven by increased sales and effective cost management. The Arizona-based online used-car retailer saw a 20% rise in its stock, reaching $248.50, with 108,000 vehicles sold in the last quarter, marking a 34% year-on-year increase. Additionally, Carvana is forecasting higher earnings for 2024, aiming for a profit between $1 billion to $1.2 billion, as its business model shows signs of strengthening following previous operational restructures.
Source: YAHOO