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Unpacking Carvana's Blockbuster Earnings Report
CVNACarvana (CVNA) Schaeffers Research·2024-05-02 14:26

Carvana stock is trading at its highest level in nearly two years after earningsCarvana Co (NYSE:CVNA) stock is surging today, up 35% to trade at 117.69,afterthe onlineused−carretailerreportedfirst−quarterearningsof23centspershare−−muchhigherthantheexpectedlossof64cents−−onrevenueof117.69, after the online used-car retailer reported first-quarter earnings of 23 cents per share -- much higher than the expected loss of 64 cents -- on revenue of 3.1 billion. Better yet, the firm also issued a better-than-expected guidance for the current quarter.Morgan Stanley and J.P. Morgan Securities both upgraded CVNA to "overweight," and no less than eig ...