Is Sportradar Group (SRAD) stock rising on earnings news? - Kalkine Media

November 16, 2022 07:44 AM PST | By Rupam Roy
Follow us on Google News:


  • The SRAD stock was up over 21 per cent on Wednesday.
  • The company reported its quarterly earnings results on November 16.
  • Sportradar Group has raised its annual revenue guidance.

The stocks of the leisure and entertainment firm, Sportradar Group AG (NASDAQ: SRAD) were among the top percentage movers in the morning trading hours on Wednesday, November 16, after the company reported its latest quarterly earnings results before the market opened.

The SRAD stock was up over 21 per cent soon after Wall Street trading began on Wednesday, November 16, after the company said that it noted "strong growth" and increased profitability in the recent quarter.

Let's look at the company's latest quarter earnings highlights, and see how it has performed in recent months:

Third quarter earnings highlights of Sportradar Group AG (SRAD):

Sportradar Group is a leisure and entertainment firm based in Switzerland. The company primarily operates as a sports technology company, that offers several services related to sports, media, and betting.

Meanwhile, the sports technology company's revenue soared 31 per cent to € 178.8 million or US$ 175.2 million in Q3 FY22, compared with the year-ago quarter. Meanwhile, its year-to-date revenue jumped 28 per cent YoY to € 523.90 million.

The RoW Betting segment revenue, which accounts for 56 per cent of the company's total revenue, surged 28 per cent YoY to € 100.9 million or US$ 98.9 million in the quarter. Its revenue from the US segment grew 61 per cent to € 31.6 million or US$ 31 million on an annual basis.

Notably, the company said that it has achieved first-time profitability from the US segment since its IPO and generated a positive adjusted EBITDA margin of 11 per cent.

Meanwhile, Sportradar Group's adjusted EBITDA grew 75 per cent YoY to € 36.5 million or US$ 35.8 million in Q3 FY22. The company's profit for the period totaled € 12.75 million, against a loss of € 9.03 million in Q3 FY21.

Third quarter earnings highlights of Sportradar Group AG (SRAD)Source: ©Kalkine Media®; © Canva via

Bottom line:

The SRAD stock was priced at US$ 12.295 at 9:40 am ET on November 16, an increase of 21.13 per cent from its previous close, and its trading volume was 133,565 during writing. Meanwhile, the stock closed at US$ 10.15 on Tuesday, November 15.

Meanwhile, Sportradar Group has raised its annual revenue guidance to be between € 718 million and € 723 million (US$ 703.6 million and US$ 708.5 million), from its prior guidance range of € 695 million to € 715 million. This reflects a prospective year-over-year growth of 28 per cent and 29 per cent, respectively.


The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.

Top Listed Companies