Manhattan Associates, Inc. (NASDAQ: MANH), a provider of a software platform for supply chain management, presented a good second-quarter report. This was the explanation for a 17.85 percent increase in MANH prices to $137.44 during trading on July 27. The market capitalization was $8.82 billion at the time.
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MANH sales exceeded $192 million in the most recent quarter, up from $166.1 million the previous year. At the same time, Manhattan’s income from cloud computing increased by 48 percent, while revenue from services increased by 19 percent. GAAP profits per share increased slightly to $0.49. The cash reserve amounted to $213.8 million. The corporation has implemented a fresh $100.1 million share repurchase program.
Manhattan Associates, Inc. (MANH) has set records not only for the quarter but also for the first six months of 2022. The firm earned $370.9 million in revenue in the first half of the year, with the cloud subscription accounting for $79.5 million of that total.
The company’s cloud solutions continue to be in high demand, and Manhattan Associates, Inc. (MANH) even increased the issue for the entire year of 2022. The business now anticipates an increase in revenue of 10-12 percent to $733- $741 million.
Manhattan Associates, Inc. (MANH) offers a comprehensive range of IT solutions for managing logistics, warehouses, merchant transport operations, point of sale, customer support tools, order administration, and other similar tasks. Large consumer goods manufacturers, retail chains, omnichannel retailers, medicines, and other businesses employ Manhattan solutions.
The COVID-19 situation has put a strain on Manhattan Associates, Inc. (MANH)’s company, while demand in other categories, such as tools for delivery operators, has expanded and has stayed stable.
Manhattan Associates Inc. (NASDAQ: MANH) stock has risen 15.19 percent in the last week but is up 7.38 percent in the previous quarter. Going back further, the stock’s price has increased by more than 11.87 percent in the previous six months but is down -10.57 percent year to date.