What to Expect When Carvana Reports Earnings
Online used-car sales platform Carvana (NYSE: CVNA) reports fiscal third-quarter 2019 earnings on Wednesday, after the markets close for trading. The rampantly growing auto intermediary has chalked up a share-price return of 78% over the last twelve months.
Below, let's key in on three themes which will largely determine whether Carvana's shares maintain their positive trend.
The stock has appreciated 550% since its initial public offering in April 2017, and Carvana's rapid revenue growth is the foremost catalyst behind that. In the second quarter of 2019, Carvana's top line increased 108% to $986 million, and the car seller recorded its 22nd consecutive quarter of double-digit year-over-year revenue expansion.
Source Fool.com