Carvana (CVNA) Revenue — Quarter Ended Mar 31, 2023
Revenue declined in the current quarter. The decrease was steeper compared to the same quarter one year earlier.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue declined in the current quarter. The decrease was steeper compared to the same quarter one year earlier.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.6B
Revenue reported for this quarter.
Quarter-over-quarter
-8.1%
Change from the immediately preceding quarter.
Year-over-year
-25.5%
Change from the comparable year-ago quarter.
Trailing four quarters
$12.7B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $3.9B | +16.4% |
| Sep 30, 2022 | $3.4B | -2.7% |
| Dec 31, 2022 | $2.8B | -24.4% |
| Mar 31, 2023 | $2.6B | -25.5% |
Revenue performance
The reported revenue moved downward from the immediately preceding quarter. The year-over-year comparison also showed a decline.
Quarterly comparison
Revenue was lower than both the prior quarter and the same quarter one year ago. The sequential decline was less pronounced than the year-over-year drop.
What to watch
The filing context notes an increased focus on driving profitability through expense structure adjustments relative to unit volume levels.