Carvana shares surge after the company boosts second-quarter guidance
CNBC 2023-06-08 19:49:57 • 3 mins
Key Points
- Online used-car retailer Carvana said its second-quarter results would likely come in ahead of its earlier expectations as cost-reduction measures take hold.
- Shares were up almost 60% in late afternoon trading.
- "The team's persistent focus on driving profitability has resulted in significant savings and efficiencies, and this work will persist as we continue to execute our plan," CEO Ernie Garcia said in a statement on Thursday.
In this article
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A Carvana glass tower sits illuminated on Feb. 23, 2022, in Oak Brook, Illinois.
Armando L. Sanchez | Tribune News Service | Getty Images
Shares of online used-car retailer Carvana surged on Thursday after the company said its second-quarter results would likely come in ahead of its earlier expectations as cost-reduction measures take hold.
