(Reuters) — Carvana reported its first-ever annual profit on Thursday, helped by its pact with bondholders to cut its outstanding debt by $1 billion
Shares in the used car retailer surged almost 27% in premarket trading on Friday, after the report.
The company reported a net income of $450 million for 2023, including an $878-million gain on debt extinguishment, compared with a loss of $1.59 billion in 2022.
The company also forecast an adjusted core profit for the first quarter…
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