Carvana Stock Surges After Reporting First Annual Profit, Bullish Outlook

Key TakeawaysCarvana shares soared after the online used-car retailer posted its first annual profit and issued a bullish outlook as it cut both costs and debt.The company also forecast adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) "significantly above $100 million."Carvana cut costs by renegotiating debt and reducing inventory.Carvana (CVNA) shares soared after the online used-car retailer posted its first annual profit and said it expects improved earnings this quarter ...