Carvana raised its 2024 earnings guidance after exceeding Q3 expectations, reporting earnings per share of 64 cents and revenue of $3.65 billion. The company anticipates adjusted EBITDA significantly above its previous target of $1 billion to $1.2 billion, driven by a projected increase in retail vehicle sales in Q4. Despite a decline in net income to $148 million from $741 million a year earlier, Carvana's stock surged approximately 20% in after-hours trading, reflecting a 300% increase this year as the company restructured operations.
