Carvana Posts Record First Quarter, Shares Surge on Strong Financial Performance

Carvana achieves historic financial results with record profits and a significant increase in gross profit per unit, signaling a robust recovery.

Carvana reports a record first quarter profit of $49 million, a stark contrast to the $286 million loss a year ago.
Shares of Carvana soared by up to 38% following the announcement of its Q1 financial results.
The company's gross profit per unit reached an all-time high of $6,432, reflecting a 49.5% increase.
Analysts raise Carvana's stock price target, citing strong quarterly performance and optimistic future growth.
CEO Ernie Garcia highlights the success of Carvana's online retail model in driving profitability and enhancing customer experiences.