Carvana Stock Is Rallying Thursday: What's Driving The Action?

Carvana Co (NYSE:CVNA) shares are trading higher Thursday after the company reported better-than-expected results for the third quarter.

Q3 Revenue: $3.66 billion, versus estimates of $3.45 billion

Q3 EPS: 64 cents, versus estimates of 17 cents

Total revenue was up 32% year-over-year. Carvana sold 108,651 vehicles in the third quarter, up 34% year-over-year. Gross profit per unit was $7,427 in the quarter, up $1,475 from the prior year's quarter.

"As we integrate ...