Carvana forecasts $2.7–3 bn profit this year after record Q2 quarterly results

Carvana said on Wednesday it expects full-year earnings of between $2.7 billion and $3 billion after posting record quarterly results in Q2. The online used-car retailer's forecast marks a remarkable turnaround for a company that came close to bankruptcy just a few years ago. Record profitability in Q2 underpins the upgraded annual guidance.