Toast Q1 2024 GAAP EPS $(0.15) Misses $(0.14) Estimate, Sales $1.075B Beat $1.041B Estimate
Portfolio Pulse from Benzinga Newsdesk
Toast (NYSE:TOST) reported Q1 2024 earnings with a GAAP EPS of $(0.15), missing the $(0.14) estimate, but sales of $1.075B exceeded the $1.041B estimate. This represents a 6.25% improvement in losses and a 31.26% increase in sales compared to the same period last year.
May 07, 2024 | 8:20 pm
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Toast reported a slight miss on EPS estimates but exceeded sales forecasts for Q1 2024, showing both an improvement in losses and significant sales growth year-over-year.
The miss on EPS estimates by 7.14% could initially disappoint investors, potentially putting downward pressure on the stock. However, the significant beat on sales forecasts and the year-over-year growth in both earnings and sales suggest underlying strength in the company's business model. This mixed result could lead to neutral short-term stock price movement as the market digests both the miss on EPS and the beat on sales.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90