PREVIEW: Toast shares lose ground ahead of earnings report

Toast

15/02/2024 20:38

** Shares in restaurant software provider Toast Inc  TOST.N 
down 6.4%, with a sharp spike lower in afternoon trading after a
report from Bloomberg that it was planning to cut 550 jobs ahead
of its quarterly report due out after market close
    ** TOST, on track for biggest one-day pct decline since Nov.
9 when it cut upper end of its FY rev outlook, last traded at
$18.87 compared with its session high of $20.64
    ** Co expected to report adj loss/shr of $0.11 compared with
loss/shr of $0.19 in year-ago quarter on rev of $1.02 bln, which
would be up 32.2% y/y, according to latest data from LSEG 
    ** In last 8 quarter TOST reported loss/shr that was
narrower than Wall Street expectations 6 times while rev beat
every time 
    **YTD its shares are up ~3.6% after rising 1.3% in 2023

 (Reporting By Sinéad Carew)
 ((sinead.carew@thomsonreuters.com; +13322191897;))