For the second quarter ending in June, the online car dealer posted revenue of $4.84 billion, above the estimates of analysts polled by FactSet of $4.58 billion and up 42% from the same period in 2024. Earnings of $1.28 a share beat the expected $1.17 a share—more than triple the 37 cents a share reported in the same quarter last year.

Carvana is scheduled to report earnings after the closing bell Wednesday, with traders expecting a big move from the used car retailer's stock.