Toast's stock heats up on sales jump
By Jon Swartz
Toast Inc.'s stock popped higher in after-hours trading Thursday after the company posted strong quarterly sales.
The cloud-based restaurant-management software company (TOST) reported a fiscal fourth-quarter net loss of $36 million, or 7 cents a share, compared with a net loss of $99 million, or 19 cents a share, in the same quarter a year ago.
Revenue climbed 35% to $1.04 billion from $769 million in the year-ago quarter.
Analysts surveyed by FactSet had expected on average net income of 3 cents a share on revenue of $1.02 billion.
After initially jumping 16% immediately following its results, Toast shares ended Thursday's after-hours session up 6%.
Shares of Toast are down 4% over the past year, while the broader S&P 500 index SPX has increased 23%.
-Jon Swartz
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
02-15-24 2009ET
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Where Top Stock Fund Managers Are Looking Next After the Fed Rate Cut
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst
-
How GLP-1 Drugs Like Ozempic Are Boosting Biopharma Stocks