US Stock Market Move | Q2 performance exceeds expectations, Carvana (CVNA.US) increases by over 21%.

On Thursday, Carvana (CVNA.US) surged over 21% to a historical high of $405.89. On the news front, the company announced strong second quarter performance with revenue of $4.84 billion, exceeding expectations of $4.53 billion; earnings per share were $1.28, exceeding expectations of $0.97. Second quarter revenue increased by 42% year-on-year, with vehicle sales up 41% to 143,280 units. Carvana expects retail unit sales to increase sequentially in the third quarter. Carvana co-founder and CEO Ernie Garcia stated, "Carvana's industry-leading growth is achieved by providing a customer-loved experience, and our industry-leading profitability is driven by our unique, efficient, and vertically integrated business model. As we continue to seize immense opportunities, we will continue to leverage the scale advantages of our model to drive profit growth and provide a better customer experience."