Why Carvana Shares Are Up 4% Today

Shares of Carvana (NYSE: CVNA), the e-commerce auto trader known for its car vending machines, jumped 12% early today after announcing third-quarter earnings late yesterday. The bounce didn't completely hold, and shares are now up 4% as of 10:30 a.m. EDT on Friday.

CEO Ernie Garcia called the company's third-quarter performance "incredible." It reached several operational and financial milestones, including the company's first quarter of positive earnings before interest, taxes, depreciation, and amortization (EBITDA).

Revenue increased 41% compared to the year-ago period, total gross profit (which typically excludes fixed costs) jumped 90%, and the net loss improved from $90 million last year to $18 million. 

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Source Fool.com