Carvana's Q1 vehicle sales increased by 40% year-on-year, with an optimistic outlook for Q2 performance.
Gelonghui, April 30 — Online auto retailer Carvana announced that first-quarter revenue reached $6.43 billion, a year-on-year increase of 52%, exceeding analysts' expectations of $6.08 billion. Earnings per share were $1.69, also higher than the market expectation of $1.50. During the period, car sales reached 187,393 units, a year-on-year increase of 40%. Carvana expects quarter-on-quarter growth in retail sales volume and adjusted EBITDA for the second quarter, with both indicators set for “significant growth” by 2026.
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