Carvana Co. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
November 04, 2021 at 08:11 pm
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Carvana Co. reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported sales was USD 278 million compared to USD 125 million a year ago. Revenue was USD 3,480 million compared to USD 1,544 million a year ago. Net loss was USD 32 million compared to USD 7 million a year ago.
For the nine months, sales was USD 758 million compared to USD 256 million a year ago. Revenue was USD 9,061 million compared to USD 3,760 million a year ago. Net loss was USD 46 million compared to USD 108 million a year ago.
Carvana Co. is a holding company. The Company operates an e-commerce platform for buying and selling used cars. On the Company's platform, consumers can research and identify a vehicle, inspect it using its 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle, and schedule delivery or pick-up, all from their desktop or mobile devices. It also provides automated vehicle valuations for buying vehicles from customers with or without a retail purchase, automated financing, vehicle service contracts (VSC), auto insurance, GAP waiver coverage, limited warranty, and other ancillary products. It offers pick-up and delivery options, including pick-up at its vending machines or hubs, and as soon as same day deliveries, depending on the market. The Company's in-house customer advocates are available to answer customer questions that arise throughout the process.