Toast Turned $1.91 Billion in Revenue Into $154 Million in Profit. The Payments Half Is Doing the Heavy Lifting.

Key Points Toast's payments business continued to drive gross profits and overall net income last quarter. The company uses its payments business as the centerpiece of its growth engine. Toast's payments platform helps win customers for its subscription services unit, which has even higher margins. 10 stocks we like better than Toast › Toast (NYSE: TOST) is a leading provider of financial technology services for businesses in the restaurant industry. The business is growing rapidly and still seems to have a long runway for expansion, but some of its business segments are carrying a lot more weight on the profitability front than others. In the second quarter, Toast's revenue grew 23% to reach roughly $1.91 billion.