Carvana posted a first‑quarter profit of $405 million, or $1.69 per share, beating analysts’ consensus of $1.43 a share. The surge followed record used‑car sales that lifted revenue to $6.43 billion, up from $4.23 billion a year earlier. Investors welcomed the earnings beat, sending the stock higher in after‑hours trading. The surge came after the firm completed a $500 million debt refinancing earlier in the year, improving cash flow.

The company’s top line jump reflects a broader rebound in the online‑used‑car market, where tighter inventories have pushed buyers toward digital platforms. Carvana’s inventory turnover improved as its “no‑hassle” financing and home‑delivery model attracted price‑sensitive shoppers, helping the firm expand its gross merchandise volume despite lingering supply‑chain constraints. Analysts note that the higher gross margin also reflects lower reconditioning costs as the company gains scale.

With revenue climbing 52% year‑over‑year, Carvana now sits on a stronger balance sheet and can fund its aggressive expansion of fulfillment centers. The earnings beat underscores the viability of its e‑commerce approach, suggesting the firm can sustain growth while navigating the used‑car market’s volatility. Management indicated that the cash could be used to accelerate vehicle acquisitions, bolstering inventory ahead of the buying season.