TOST - Why Toast Stock Jumped 15% Today
2024-05-08 15:40:06 ET
Shares of Toast (NYSE: TOST) soared 15.1% higher on Wednesday morning, spiced up by a tasty first-quarter earnings report. By 3 p.m. ET, the stock had cooled down somewhat to a 13.6% one-day gain.
In the first quarter of 2025, Toast, which sells restaurant management software, reported a net loss of $0.15 per share and revenue of $1.08 billion. The average Wall Street analyst had expected a slightly lower loss of $0.14 per share on lower revenue near $1.04 billion. That's a mixed bag of headline results.
But revenue rose by 31% year over year, supported by 32% growth in its annualized recurring run-rate (ARR). Transaction volumes in Toast's payment processing system also jumped 30% higher and the number of customer locations grew by 32%.
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Why Toast Stock Jumped 15% Today