Carvana Co CVNA reported financial results for the third quarter after the market close on Wednesday. Here’s a look at the key metrics from the quarter.

Q3 Earnings: Carvana reported third-quarter revenue of $3.66 billion, beating the consensus estimate of $3.45 billion, according to Benzinga Pro. The used car retailer reported third-quarter earnings of 64 cents per share, beating analyst estimates of 17 cents per share.

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.

Net income was $148 million and net income margin was 4% in the third quarter. Carvana reported operating income of $337 million and adjusted EBITDA of $429 million.

“Carvana’s exceptional results underscore our position as the fastest-growing and most profitable automotive retailer. Our progress in Q3 further highlights the strength of our vertically integrated business model and also begins to demonstrate the power of our unique infrastructure, including the ADESA network,” said Ernie Garcia, co-founder and CEO of Carvana.

“As we integrate our operations and tap our national footprint, we are not only driving efficient growth, but also improving customer experiences, reducing costs, and strengthening our wholesale platform.”

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Outlook: Carvana said it anticipates a sequential increase in year-over-year growth for retail units sold in the fourth quarter. The company also expects full-year adjusted EBITDA to be above the high end of its previous guidance range of $1 billion to $1.2 billion.

“With just 1% share in an enormous market, significant capacity to support growth, and a business that generates positive feedback as it scales, we are just getting started,” Garcia added.

Management will hold a conference call to further discuss the company’s quarterly performance at 5:30 p.m. ET.

CVNA Price Action: Carvana shares were up 22.05% after hours at $253.02 at the time of publication Wednesday, according to Benzinga Pro.

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