Sportradar gains on revenue forecast raise, results beat

Sportradar AG

17/08/2022 13:55

** Shares in sports data firm Sportradar  SRAD.O  rise 1.7%
to $12.20 in premarket trading
    ** Sportradar raises its FY 2022 revenue forecast to between
695 mln euros ($705.98 mln) and 715 mln euros ($726.30 mln) from
prior range of 665 mln euros to 700 mln euros, boosted by demand
for its products from media houses and betting firms
 urn:newsml:reuters.com:*:nGNX9yGcb7
    ** CEO Carsten Koerl says strong cash flow allowed
Sportradar to pay down about half of its outstanding debt
    ** Sportradar also says CFO Alex Gersh is leaving to move
with his family, with search for replacement underway and Chief
Strategy Officer Ulrich Harmuth named as interim-finance head
    ** Results for Q2 are also above Refinitiv IBES estimates
    ** Through last close, shares had lost nearly a third of
their value this year

($1 = 0.9844 euros)

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))