Carvana Earnings Boosted by 40% Jump in Vehicle Sales. The Stock Is Rising.

Shares of Carvana revved higher in premarket trading Thursday after the used-car retailer posted better-than-expected first-quarter earnings and revenue on strong vehicle sales. The company, however, continues to focus on boosting profit margins. Carvana stock was up 6.8% in premarket trading at $423.38, while and futures were up 0.5% and 0.7%, respectively.