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Here's Why Olo Stock Jumped Higher Today

TheMotleyFool

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Here's Why Olo Stock Jumped Higher Today: https://g.foolcdn.com/editorial/images/766379/restaurant-workers-prepare-food-while-holding-tablet-device.jpg

Shares of restaurant-technology company Olo (NYSE: OLO) jumped higher on Thursday after the company closed out 2023 with strong financial results. As of 10:15 a.m. ET, Olo stock was only up 6%. But it had been up as much as 18% earlier in the day.

For the fourth quarter of 2023, Olo's management had expected to generate revenue of $59 million at most. But in Q4, the company generated revenue of $63 million, which was a 27% year-over-year increase.

Among its big wins for the quarter was Waffle House, which will use multiple Olo products. And Five Guys expanded the amount of Olo products it's using.

Source Fool.com

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