Tempe-based Carvana reports a loss of $806 million in Q4 Earnings release
TEMPE, Ariz. (AP) — Carvana Co. (CVNA) on Thursday reported a loss of $806 million in its fourth quarter.
On a per-share basis, the Tempe, Arizona-based company said it had a loss of $7.61.
Losses, adjusted for asset impairment costs and restructuring costs, came to 97 cents per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of $2.30 per share.
The company posted revenue of $2.84 billion in the period, which missed Street forecasts. Eleven analysts surveyed by Zacks expected $3.02 billion.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CVNA at https://www.zacks.com/ap/CVNA