Used Cars in Vending Machines: Carvana's Revenue Jumps, but Loss Widens
Carvana Co. (NYSE: CVNA), which sells used cars online and delivers them via distinctive "vending machine" retail facilities, reported on Aug. 8 that its net loss in the second quarter widened to $38.9 million, or $0.28 per share, from $18 million a year ago.
That wider loss came despite a big year-over-year gain in revenue, as Carvana spent aggressively on its plan to expand rapidly across the United States.
Carvana's dealership in Houston, with its distinctive "vending machine" tower. Image source: Carvana Co.
Source: Fool.com
Carvana Co. Stock
€137.98
-0.060%
Currently there is a rather positive sentiment for Carvana Co. with 10 Buy predictions and 6 Sell predictions.
As a result the target price of 140 € shows a slightly positive potential of 1.46% compared to the current price of 137.98 € for Carvana Co..
