Toast Inc. shares climbed 4.55% to close at $27.33 following a strong fourth-quarter earnings report that significantly outperformed analyst estimates. This surge marks a recovery from recent 52-week lows and offsets concerns regarding competitive pressures.
- The company reported $1.63 billion in revenue and $101 million in net income, far exceeding the projected $72.49 million.
- The results eased investor fears that international expansion would negatively impact profit margins.
- The performance provided a necessary boost after Wolfe Research downgraded the stock just one day prior.