Why Carvana's Stock Is Trading Higher Today

Carvana Co CVNA shares are trading higher by 4.5% at $349.50 Friday morning after the company reported better-than-expected second-quarter EPS and sales results.

Carvana reported quarterly earnings of 26 cents per share which beat the analyst consensus estimate of a loss of 41 cents per share. Carvana also reported quarterly sales of $3.34 billion which beat the analyst consensus estimate of $2.44 billion.

Among the highlights from Carvana's earnings report:

• The company sold 107,815 retails units, their first quarter over 100k and an increase of 96% YoY. The company grew revenue to $3.3 billion, their first quarter over $3 billion and an increase of 198% YoY.
• The company achieved a company record in Total GPU of $5,120, their first quarter over $5,000, driven by company records in every underlying GPU category.
• The company recorded our first-ever quarter of positive net income of $45 million and set a company record EBITDA margin at 3.4% and company record EBITDA of $112 million.

Carvana is an e-commerce platform for buying and selling used cars. The company derives revenue from used vehicle sales and wholesale vehicle sales.

Carvana has a 52-week high of $372.01 and a 52-week low of $158.25.