Carvana Earnings Boosted by 40% Jump in Vehicle Sales. The Stock Falls.

Carvana the used-car retailer, posted better-than-expected first-quarter earnings and revenue on strong vehicle sales. The company, however, continues to focus on boosting profit margins.

The car dealer reported adjusted earnings before interest, taxes, depreciation, and amortization of $672 million for the first quarter, topping analysts’ consensus call for $646 million.