Carvana (CVNA) Revenue — Quarter Ended Sep 30, 2023
Revenue for the quarter declined compared to both the prior quarter and the same quarter last year. The decrease from the prior quarter was smaller than the year-over-year decline.
Key takeaway
Quarter ended Sep 30, 2023 · FY2023 Q3
Revenue for the quarter declined compared to both the prior quarter and the same quarter last year. The decrease from the prior quarter was smaller than the year-over-year decline.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.8B
Revenue reported for this quarter.
Quarter-over-quarter
-6.6%
Change from the immediately preceding quarter.
Year-over-year
-18.1%
Change from the comparable year-ago quarter.
Trailing four quarters
$11.2B
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 |
|---|---|---|
| Dec 31, 2022 | $2.8B | -24.4% |
| Mar 31, 2023 | $2.6B | -25.5% |
| Jun 30, 2023 | $3B | -23.6% |
| Sep 30, 2023 | $2.8B | -18.1% |
Revenue performance
Reported revenue moved lower for the quarter, continuing a pattern of year-over-year declines seen in recent periods.
Quarterly comparison
Revenue was down compared to the immediately preceding quarter and also fell relative to the same quarter one year earlier. The sequential decline was less pronounced than the year-over-year drop.
What to watch
The filing context discusses a focus on profitability initiatives and expense restructuring in response to the macroeconomic environment.