Manhattan Associates Shares Rise on Better-Than-Expected 2Q Earnings

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Manhattan Associates Shares Rise on Better-Than-Expected 2Q Earnings

Dow Jones07-24

Shares of Manhattan Associates rose after the company posted second-quarter earnings that beat Wall Street analysts' expectations.

After the bell, the stock was up 8% to $244.16. Shares ended Tuesday's trading session at $226 and are up about 5% since the beginning of the year.

The Atlanta-based company, which provides supply chain solutions, on Tuesday posted a profit of $52.8 million, or 85 cents a share, up from $39.6 million, or 63 cents a share, in the year-ago quarter.

Adjusted per-share earnings were $1.18. Analysts surveyed by FactSet were expecting adjusted per-share earnings of 96 cents.

Revenue rose about 15% to $265.3 million, beating Wall Street analysts' expectations of $255.8 million, according to FactSet. The company increased its full-year revenue projection to about $1.04 billion from about $1.03 billion.

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