_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 new 2021 subaru cars 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: 5.1M times
✓ Published: 03-May-2024
👁 View: 5.1M 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
_subarus-new-car-is-cheaper-and-better-than-toyota-now-and-i39m-scared.webp "Scotty Kilmer")
⏲ 12 minutes 21 seconds 👁 184.9K
_consider-these-tips-for-teaching-financial-literacy-to-gen-z.webp "John Hope Bryant, the CEO of nonprofit Operation HOPE, joins Forbes senior writer Jabari Young at the Nasdaq MarketSite to discuss his new book, “Financial Literacy For All.” Additionally, Bryant updates his $130 million initiative with e-commerce platform Shopify to create one million Black-owned businesses by 2030.<br/><br/>0:00 Introduction<br/>2:05 John Hope Bryant On The State Of Economics Worldwide <br/>4:41 Americans Living Paycheck To Paycheck<br/>10:28 John Hope Bryant's book Financial Literacy For All<br/>17:18 How Does One Build Wealth With A Partner?<br/>21:23 Wealth Building No Matter Where You Live<br/>25:10 John Hope Bryant On Being CEO Of Operation HOPE <br/>30:55 Life Economically After The Pandemic<br/>33:06 Interest Rates, Car Buying, And Major Purchases: How Should You Approach Them?<br/>35:52 John Hope Bryant On The U.S.' Political State And Impact On Economy<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.")
_2021-subaru-ascent-124-car-mom-tour.webp "The_Car_Mom")
_2021-subaru-legacy-interior-fly-through.webp "Subaru")
_2021-subaru-outback-how-to-tutorial-all-the-buttons-and-features.webp "Alex Prestigiacomo")
_subaru-eyesight-explained-driving-examples.webp "Alex Prestigiacomo")
_f1-24-reveal-trailer-124-2024.webp "BE ONE OF THE 20! Join the grid and Be One of the 20 with EA SPORTS F1 24, the official video game of the 2024 FIA Formula One World Championship. EA SPORTS F1 24 arriving May 31, 2024. F1 23 players can jump into Time Trial challenges using the all-new Alpine, Haas, McLaren, and Williams 2024 team cars by pre-ordering F1 24 Champions Edition by May 1st, 2024.<br/><br/>Official site https://www.ea.com/games/f1/f1-24<br/><br/>JOIN THE XBOXVIEWTV COMMUNITY<br/>Twitter ► https://twitter.com/xboxviewtv<br/>Facebook ► https://facebook.com/xboxviewtv<br/>YouTube ► http://www.youtube.com/xboxviewtv<br/>Dailymotion ► https://dailymotion.com/xboxviewtv<br/>Twitch ► https://twitch.tv/xboxviewtv<br/>Website ► https://xboxviewtv.com<br/><br/>Note: The #F124 #Trailer is courtesy of #EA SPORTS. All Rights Reserved. The https://amzo.in are with a purchase nothing changes for you, but you support our work. #XboxViewTV publishes game news and about Xbox and PC games and hardware.")
_huge-news-9234subaru-ceo-reveals-5-new-2025-models-that-impact-the-automotive-industry9234-evs-evnews.webp "Business and Cars Business")
⏲ 13 minutes 35 seconds 👁 24.7K
_subarus-new-car-is-cheaper-and-better-than-toyota-now-and-i39m-scared.jpg)
_consider-these-tips-for-teaching-financial-literacy-to-gen-z.jpg)
_2021-subaru-ascent-124-car-mom-tour.jpg)
_2021-subaru-legacy-interior-fly-through.jpg)
_2021-subaru-outback-how-to-tutorial-all-the-buttons-and-features.jpg)
_subaru-eyesight-explained-driving-examples.jpg)
_f1-24-reveal-trailer-124-2024.jpg)
_huge-news-9234subaru-ceo-reveals-5-new-2025-models-that-impact-the-automotive-industry9234-evs-evnews.jpg)
![[+]](/images/menu.gif){kind=small}