shares of carvana co rallied more than 22 in the aftermarket thursday after the online usedcar company narrowed its quarterly loss and said it expects to reach adjusted profits in the current quarter carvana cvna lost 286 million or 151 a share in the first quarter compared with a loss of 506 million or 289 a share in the yearago quarter revenue dropped 25 to 261 billion factset consensus called for a loss of 203 a share on sales of 264 billion the company said it hopes to achieve positive adjusted ebitda in the second quarter carvana shares rallied earlier this week bouncing off last week’s multiweek lows after bloomberg citing people familiar with the situation reported that creditors holding about 90 of the company’s bonds have proposed ways to cut debt and improve liquidity wall street has called a potential debtforequity swap one of the proposals reportedly on the table a “lifeline” for the company carvana in march launched a bond swap to try to shore up its balance sheet at the time the online car retailer also announced preliminary firstquarter results that called for revenue between 24 billion and 26 billion in the first quarter shares of carvana have lost 88 in the past 12 months compared with a loss of around 55 for the sp 500 index spx  so far this year however the stock is up 50 compared with an advance of 58 for the sp 500