The company reported quarterly revenue of $297.8 million, comfortably exceeding the $287.7 million expected by analysts. Adjusted earnings reached $1.39 a share, topping the consensus estimate of $1.32. This growth was driven largely by a sharp increase in cloud subscriptions, which rose to $126.7 million from $100.4 million in the same period last year. Total services revenue also saw a healthy bump, climbing to $133 million.
In section Market Quotes
Manhattan Associates Climbs as Supply-Chain Software Demand Surges
Investors pushed Manhattan Associates stock up 8.8% to $183.00 following a robust second-quarter performance that outpaced Wall Street projections. The supply-chain software developer leveraged this momentum to raise its full-year revenue and earnings outlook, signaling stronger-than-anticipated demand for its cloud subscription services and industrial solutions.
Bolstered by these results, management revised its full-year revenue growth forecast to a range of 7% to 8%, targeting a total between $1.16 billion and $1.17 billion. The updated guidance for adjusted earnings now sits between $5.44 and $5.50 per share, surpassing previous estimates of $5.29 to $5.37. With $2.47 billion in remaining performance obligations, the firm enters the second half of the year with a substantial backlog of contracted work.
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