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

Earnings Results Last Updated: May 5, 2023 at 7:29 a.m. ET First Published: May 4, 2023 at 4:31 p.m. ET Carvana says it hopes to achieve positive adjusted EBITDA this quarter A Carvana “vending machine” in Miami in December. Getty Images Shares of Carvana Co. rallied 25% in the aftermarket Thursday after the online used-car
Financial Press

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Earnings Results

Carvana says it hopes to achieve positive adjusted EBITDA this quarter

A Carvana “vending machine” in Miami in December.

Getty Images

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.

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