Carvana Posts Q3 Earnings of $289 Million, Misses Analyst Estimates on EPS

Carvana Co. (CVNA) reported third-quarter earnings of $289 million on Wednesday, with net income of 39 cents per share, falling short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was 47 cents per share. The Tempe, Arizona-based company posted revenue of $8.04 billion, exceeding Street forecasts of $7.67 billion from seven analysts surveyed by Zacks. The results present a mixed picture for the online used-car retailer, with revenue beating expectations while per-share earnings disappointed.