Carvana reported a significant jump in both revenue and profit, driven by record car sales in the used-vehicle marketplace. The company's revenue grew 58% to $5.6 billion, up from $3.55 billion in the year-ago period, according to the latest financial results.

The strong performance reflects continued momentum in Carvana's online car-buying platform, which has gained traction among consumers seeking contactless vehicle purchases. The company's ability to maintain growth during challenging market conditions underscores its competitive position in the digital automotive retail space.

Carvana's results highlight the ongoing shift toward e-commerce in the automotive industry, as more buyers embrace online car shopping. The substantial revenue increase suggests the company is successfully capturing market share while expanding its operational scale and customer base.