Carvana is an innovative online platform that revolutionizes the process of buying and selling used vehicles
The company allows customers to browse a vast selection of cars through its website, providing detailed descriptions and visual assets to facilitate informed purchasing decisions. Carvana also offers unique features like home delivery and the option to sell or trade vehicles seamlessly, eliminating the traditional hassles associated with dealerships. With a focus on enhancing the customer experience, Carvana leverages technology to streamline every step of the automotive retail process, aiming to make car buying more convenient and accessible for consumers.
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Shares of online used car dealer Carvana (NYSECVNA)
fell 15.8% in the afternoon session after the company reported fourth-quarter 2024 earnings, but expectations were high heading into the announcements, and the results failed to impress. Carvana exceeded analysts' EBITDA and revenue estimates as it sold more used vehicles than anticipated. Zooming out, we think this was a decent quarter with some key areas of upside. The market seemed to be hoping for more, however, as shares were up 40%+ year-to-date going into the print.
Online used car dealer Carvana (NYSECVNA) reported revenue ahead of Wall Street’s expectations in Q4 CY2024, with sales up 46.3% year on year to $3.55 billion.
Market indexes fought back and closed in the green for today’s trading session — all but the small-cap Russell 2000, which also improved but didn’t quite make it into positive territory.
Carvana reported fourth-quarter revenue of $3.55 billion, beating the consensus estimate of $3.31 billion. The used car retailer reported fourth-quarter earnings of 56 cents per share, beating analyst estimates of 21 cents per share, according to Benzinga Pro.
