Ernie Garcia, CEO, Carvana
Scott Mlyn | CNBC
Shares of Carvana fell in extended trading Thursday after the online used car retailer missed Wall Street’s top- and bottom-line expectations for the third quarter and reported declines in revenue, profit and sales compared with a year earlier.
The stock fell by more than 7% during after-hours trading, quickly erasing a 6.5% gain from earlier in the trading day. Shares of the company have been nearly cut in half this year, as used vehicle sales and elevated prices cooled off from record highs. The stock closed Thursday at $14.35 a share.
Here’s how Carvana performed, compared with analysts estimates as compiled by Refinitiv:
- Loss per share: $2.67…