_carvana-reports-stellar-q1-results-as-high-interest-rates-push-buyers-to-the-used-car-market-shares-soar-30.jpg "Carvana Reports Stellar Q1 Results, as High Interest Rates Push Buyers to the Used Car Market. Shares Soar 30%. from oh rate Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 0:35
👁 View: 5.2M times
✓ Published: 03-May-2024
👁 View: 5.2M times
✓ Published: 03-May-2024
Description:
Carvana shares soared over 30% in after-hours trading after reporting first-quarter revenue of more than a billion, beating analyst estimates. The company forecast a sequential rise in adjusted core profit and retail unit sales growth, surprising analysts who expected a sales decline. Adjusted earnings before interest, tax, depreciation, and amortization were more than $200 million, exceeding estimates. Carvana's inventory of unsold used vehicles on dealer lots rose 9% from a year ago. High interest rates have pushed some consumers to the used car market for better deals than new vehicles.
Carvana shares soared over 30% in after-hours trading after reporting first-quarter revenue of more than a billion, beating analyst estimates. The company forecast a sequential rise in adjusted core profit and retail unit sales growth, surprising analysts who expected a sales decline. Adjusted earnings before interest, tax, depreciation, and amortization were more than $200 million, exceeding estimates. Carvana's inventory of unsold used vehicles on dealer lots rose 9% from a year ago. High interest rates have pushed some consumers to the used car market for better deals than new vehicles.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
Related Videos
_erc-temporarily-suspends-wesm-to-prevent-power-rates-from-spiking.webp "ERC temporarily suspends WESM to prevent power rates from spiking")
_korea39s-5-richest-billionaires-2024.webp "Although South Korea’s benchmark Kospi index was one of the worst performers in Asia last year, it rebounded in 2024 fueled by investor frenzy over AI and the government’s $470 billion plan with the private sector to make the country a global chip production hub. The Kospi’s 11% rise, since we last measured fortunes 12 months ago, lifted the collective net worth of the country’s 50 richest to $115 billion from $106 billion.<br/><br/>This list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, annual reports, analysts, government agencies and other sources. Net worths were based on stock prices and exchange rates as of the close of markets on April 2, 2024 and private companies were valued based on similar companies that are publicly traded. Real-time net worths on Forbes.com may reflect different valuations. The ranking lists both individual and family fortunes, including those shared among relatives and may differ from the World’s Billionaires List, which includes individual fortunes with net worths as of March 8. The list can also include foreign citizens with business, residential or other ties to the country, or citizens who don’t reside in the country but have significant business or other ties to the country. The editors reserve the right to amend any information or remove any listees in light of new information.<br/><br/>Read the full story on Forbes: https://www.forbes.com/lists/korea-billionaires/?sh=745f04012222<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.")
_the-third-marriage-episode-128-english-sub.webp "The Third Marriage Episode 128 English SUB")
_moddho-rater-khobor-124-04-may-2024-124-ntv-news-124-ntv-latest-news-update.webp "Moddho Rater Khobor | 04 May 2024 | NTV News | NTV Latest News Update")
_bitcoin-and-ethereum-dip-as-federal-reserve-keeps-interest-rates-unchanged.webp "The Federal Reserve maintained its benchmark interest rate unchanged, leading to a 4% drop in Bitcoin and over 1% in Ethereum following the announcement. Fed Chair Jerome Powell said it was \")
_woman39s-knee-knocked-out-cold-right-after-the-opening-bell-during-viral-39battle-trend39.webp "Abbi's quest to hop on a viral TikTok trend flopped when her knee said, 'It doesn't work for me.' <br/><br/>The TikTok challenge in question is the 'Battle Trend,' featuring friends, siblings, or a couple standing across from each other and doing animated motions akin to players in a fighting game. <br/><br/>\")
_the-third-marriage-episode-129.webp "The Third Marriage -Episode 129")
_brutal-jim-jordan-doesn39t-let-up-on-former-top-biden-aid-about-claims-made-during-covid-19-pandemic.webp "At today's House Weaponization of the Federal Government Committee hearing, Rep. Jim Jordan (R-OH) questioned Robert Flaherty, former Assistant to the President and Director of Digital Strategy at the Biden White House, about Biden Administration COVID-19 policy.<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/><br/>Stay Connected<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com")
BRUTAL: Jim Jordan Doesn't Let Up On Former Top Biden Aid About Claims Made During COVID-19 Pandemic
⏲ 5:38 👁 435K
_erc-temporarily-suspends-wesm-to-prevent-power-rates-from-spiking.jpg)
_korea39s-5-richest-billionaires-2024.jpg)
_the-third-marriage-episode-128-english-sub.jpg)
_moddho-rater-khobor-124-04-may-2024-124-ntv-news-124-ntv-latest-news-update.jpg)
_bitcoin-and-ethereum-dip-as-federal-reserve-keeps-interest-rates-unchanged.jpg)
_woman39s-knee-knocked-out-cold-right-after-the-opening-bell-during-viral-39battle-trend39.jpg)
_the-third-marriage-episode-129.jpg)
_brutal-jim-jordan-doesn39t-let-up-on-former-top-biden-aid-about-claims-made-during-covid-19-pandemic.jpg)
![[+]](/images/menu.gif){kind=small}