MANH - Manhattan Associates slides 9% despite earnings beat guidance boost

Manhattan Associates (MANH) reports Q3 results that beat top and bottom line estimates.Q3 highlights: Total revenue was down 7.7% y/y to $149.8M.Revenue breakout: Cloud subscription, $21.06M (+48.5% y/y); Services, $73.47M (-19.7%); Maintenance, $37.3M (-1.2%); Software license, $13.23M (-14.8%) and Hardware, $4.69M (+48.8%).Q3 Non-GAAP EPS was $0.51, flat compared to year-ago period. Cash flow from operations was at $42.5M, vs. a year-ago $39.9M.At Sept. 30, days sales outstanding was 65 days, vs. 73 days at prior quarter's end.Cash and investments at the end of quarter totaled $166.3M compared to $123.6M at June 30, 2020.MANH forecasts 2020 revenue between $574M-579M (prior: $554M-570M) and Non-GAAP EPS of $1.62-1.66 (prior: $1.53-1.59), slightly above the consensus of $566.4M and $1.57.Previously: Manhattan Associates EPS beats by $0.12, beats on revenue (Oct. 22)Related: Manhattan Associates, Inc. (MANH) CEO Eddie Capel on Q3 2020 Results - Earnings Call Transcript (Oct. 22)

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Manhattan Associates slides 9% despite earnings beat, guidance boost