Carvana (CVNA) shares soared Thursday after the used car retailer beat revenue and bottom line expectations for its third quarter and gave encouraging fourth-quarter guidance.

During the quarter ended September 30Carvana’s revenue increased 32% year over year to $3.7 billion, driven by a 34% increase in retail units sold to 108,651. also said its gross profit per unit increased 20.2% to $7,685.