Carvana Posts Wider Q4 Loss. Used Car Demand Tumbled.

Online used-car dealer Carvana (ticker: CVNA) missed fourth-quarter earnings and revenue expectations and announced plans to cut about $1 billion in costs over the next six months while improving customer experiences. 

Carvana


reported a fourth-quarter loss of $7.61 a share, wider than the loss of $1.02 a share in the same quarter a year earlier. Revenue dropped 24%, to $2.837 billion.