00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Carvana shares plunged in after hours trading.
00:05Wednesday after the company's full-year guidance fell short of some Wall Street expectations,
00:10according to CNBC. Earnings came in at $0.42 per share, beating expectations of $0.41,
00:16while revenue reached $7.38 billion, above the $6.91 billion forecast.
00:23The online used car retailer forecast full-year earnings of $2.7 billion to $3 billion,
00:28below estimates of $3 billion to $3.2 billion from Deutsche Bank and $4.45 billion from Morgan Stanley.
00:37Carvana beat Wall Street's second-quarter earnings and revenue estimates,
00:40but total gross profit per unit fell about 6% and missed some analyst expectations.
00:46Shares fell more than 20% before recovering to trade about 10% lower ahead of its earnings call.
00:51For all things money, visit Benzinga.com.
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