{"id":46382,"date":"2023-08-09T12:38:17","date_gmt":"2023-08-09T16:38:17","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/toasts-stock-heats-up-after-earnings-as-company-hits-a-milestone\/"},"modified":"2023-08-09T12:38:19","modified_gmt":"2023-08-09T16:38:19","slug":"toasts-stock-heats-up-after-earnings-as-company-hits-a-milestone","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=46382","title":{"rendered":"Toast\u2019s stock heats up after earnings as company hits a milestone"},"content":{"rendered":"
\n

Toast Inc. shares popped in Tuesday\u2019s after-hours action after the maker of technology for the restaurant industry beat revenue expectations for the latest quarter and logged positive free cash flow for the first time since its initial public offering.<\/p>\n

The company notched a second-quarter net loss of $98 million, or 19 cents a share, compared with a loss of $54 million, or 11 cents a share, in the year-prior period. The FactSet consensus was for a 14-cent GAAP loss per share. <\/p>\n

\n

Toast
\n TOST,
\n +14.84%<\/bg-quote>
\n also recorded adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of $15 million, whereas it posted a $33 million loss on the metric a year prior. Analysts were modeling a $3 million adjusted Ebitda loss for the latest quarter.<\/p>\n

See also<\/strong>: Upstart\u2019s stock plunges after earnings as forecast comes in light<\/p>\n

The company posted free cash flow of $39 million, its first positive performance on the metric since Toast went public about two years ago, \u201cas we remain focused on driving lean, durable growth,\u201d according to Chief Executive Chris Comparato.<\/p>\n

\u201cWe\u2019re still in the early stages of the opportunity ahead of us, and with proof points including our new Marriott deal and adding a record number of restaurant locations, we are more confident than ever in our ability to penetrate the entire restaurant [total addressable market,\u201d he said in a release.<\/p>\n

Revenue jumped to $978 million from $675 million, while the FactSet consensus was for $943 million.<\/p>\n

The stock rose 12% in Tuesday\u2019s extended session.<\/p>\n

For the third quarter, the company models $1.01 billion to $1.04 billion in revenue, while the FactSet consensus was for $1.00 billion. <\/p>\n

Don\u2019t miss<\/strong>: Think tipflation is out of control? Here\u2019s what\u2019s driving tip creep \u2014 and when it\u2019s really OK to skip the tip.<\/p>\n

Read<\/strong>: Am I being tricked into overtipping when I eat out? Should I tip before or after sales tax is added?<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Toast Inc. shares popped in Tuesday\u2019s after-hours action after the maker of technology for the restaurant industry beat revenue expectations for the latest quarter and logged positive free cash flow for the first time since its initial public offering. The company notched a second-quarter net loss of $98 million, or 19 cents a share, compared […]<\/p>\n","protected":false},"author":1,"featured_media":46383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-46382","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nToast\u2019s stock heats up after earnings as company hits a milestone | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Toast Inc. shares popped in Tuesday\u2019s after-hours action after the maker of technology for the restaurant industry beat revenue expectations for the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=46382\" \/>\n<meta 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