Carvana Results: Used Car Sales Remain High (CVNA)

Carvana Co. reported better-than-expected results for its most recent quarter, buoyed by robust used-vehicle demand and pricing, and expressed optimism about its full-year profit outlook.

The Arizona-based company posted adjusted earnings before interest, taxes, depreciation and amortization of $429 million in the three months ended Sept. 30, well above analysts' expectations of $326.8 million and the $148 million a year ago. Revenue was $3.66 billion, according to a statement Wednesday also beat consensus estimates of $3.46 billion.