Carvana (CVNA) shares are taking a meaningful hit on Thursday as management’s muted future guidance overshadows an otherwise record-breaking Q2 financial release.
CVNA posted a 52% year-over-year increase in revenue to $7.38 billion on a record 197,325 retail units sold and $513 million in net income. Still, the online used-car retailer guided for $2.7 billion to $3 billion in full-year adjusted EBITDA, missing the consensus estimate set at $2.99 billion.
