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00:02Carvana reported third-quarter revenue of $8.04 billion,
00:07beating analyst estimates of $7.70 billion,
00:11while earnings of $0.39 per share missed expectations of $0.42, according to Benzinga Pro.
00:18Revenue increased 42% year-over-year, as vehicle sales climbed 39% to 217,385 units.
00:27Adjusted EBITDA reached approximately $800 million.
00:32Carvana expects fourth-quarter retail vehicle sales to exceed third-quarter levels,
00:37and full-year adjusted EBITDA to reach the higher end of its previous $2.7 billion to $3 billion forecast.
00:45The company said its current sales pace represents approximately 870,000 vehicles annually,
00:51or 2% of the used vehicle market.
00:54Carvana shares rose 10.08% in after-hours trading Wednesday to $65, according to Benzinga Pro.
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