TEMPE, Ariz. (AP) — TEMPE, Ariz. (AP) — Carvana Co. (CVNA) on Wednesday reported fourth-quarter earnings of $857 million.
On a per-share basis, the Tempe, Arizona-based company said it had net income of $4.22.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.
The company posted revenue of $5.6 billion in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $5.22 billion.
For the year, the company reported profit of $1.41 billion, or $8.45 per share. Revenue was reported as $20.32 billion.
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