Monday, October 3, 2022
HometechnologyToast shares pop as revenue beats estimates and forecast shows more restaurants...

Toast shares pop as revenue beats estimates and forecast shows more restaurants are going digital

  • Toast's revenue growth of 58% was well above estimates and showed that restaurants are adopting the technology despite economic challenges.
  • The total number of locations Toast serves increased to 68,000 in the second quarter, up 40% from a year earlier.
  • "Labor and food are two are the two biggest expenses for restaurants, and the current environment has amplified the pressure on both," CEO Chris Comparato said on the earnings call.

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