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Carvana Co. Cl A Up 36.41% To $45.69 After Earnings Miss

Friday, August 05, 2022 11:17 AM | InvestorsObserver Analysts

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Carvana Co. Cl A Up 36.41% To $45.69 After Earnings Miss

Friday, August 5, 2022 - Carvana Co. Cl A (CVNA) reported downside earnings and revenues today.

Wall Street earnings per share (EPS) projections for Carvana Co. Cl A were at a loss of $1.80 per share. The company missed those estimates with an EPS loss of $2.35 per share. The loss of $2.35 per share (which represents a -31% EPS surprise) led to the company's profits falling 1004% compared to last year when the firm reported an EPS of $0.26. The decline in Carvana Co. Cl A's annual growth rate represents how the business isn't performing well amid current economic conditions.

Revenues were downbeat at $3.9 billion. That is an increase of 16.43% in revenues from the year-ago report and is 2.41% lower than consensus estimates set at $4 billion.

The stock is up 36.41% to $45.69 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Carvana Co. Cl A has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 6, putting Carvana Co. Cl A in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $19.45 on July 14, 2022 and set a 52-week high on August 10, 2021 at $376.83.

Carvana Co is an e-commerce platform for buying and selling used cars. The company derives revenue from used vehicle sales, wholesale vehicle sales and other sales and revenues. The other sales and revenues include sales of loans originated and sold in securitization transactions or to financing partners, commissions received on VSCs and sales of GAP waiver coverage.

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