Toast Inc.’s stock popped higher in after-hours trading Thursday after the company posted strong quarterly sales.
The cloud-based restaurant-management software company
TOST,
reported a fiscal fourth-quarter net loss of $36 million, or 7 cents a share, compared with a net loss of $99 million, or 19 cents a share, in the same quarter a year ago.
Revenue climbed 35% to $1.04 billion from $769 million in the year-ago quarter.
Analysts surveyed by FactSet had expected on average net income of 3 cents a share on revenue of $1.02 billion.
After initially jumping 16% immediately following its results, Toast shares ended Thursday’s after-hours session up 6%.
Shares of Toast are down 4% over the past year, while the broader S&P 500 index
SPX
has increased 23%.
This story originally appeared on Marketwatch
