Here's What Drove Carvana's Blockbuster Q2
Carvana (NYSE: CVNA) is no stranger to blockbuster financial results and high-flying top-line growth during many of its quarterly reports. And investors who were savvy enough to scoop up shares during its April 2017 IPO have witnessed the company's near 600% stock price increase over its time as a publicly traded company. The stock price's most recent pop came from another strong second-quarter result that included a significant milestone for the company and its investors.
Let's dig in to what drove Carvana's blockbuster second quarter.
No matter how you break it down, Carvana's growth figures during the second quarter were nothing short of impressive. In fact, the second quarter marked the 22nd straight quarter of triple-digit revenue growth as revenue checked in with a 108% increase to just over $986 million, topping analysts' estimates that called for $921 million. Retail units jumped 95% to 44,000 units, and adjusted net loss per share was $0.40, a better result than analysts' estimates of a $0.43 loss per share.
Source Fool.com
