Sportradar Group gains on Q1 revenue beat, forecast raise

Sportradar AG

15/05/2024 13:46

** Shares of Swiss sports software firm Sportradar Group AG
 SRAD.O  up 8.3% at $10.29 premarket
    ** Co posts Q1 rev of 265.9 mln euros ($287.94 million) vs
est of 247 mln euros - LSEG data
    ** Says the U.S. revenue grew by 65% while rest of the world
revenue rose by 19%
    ** Adds that Craig Felenstein would join as chief financial
officer  
    ** Co also raised its 2024 revenue forecast to 1.06 billion
euros vs 1.05 bln euros, forecasted earlier
    ** "The business continues to evolve both from a revenue and
a profit perspective, as the U.S. outgrows the much larger ROW
(rest of world)" - Jefferies   
    ** Upto last close, stock is down ~14% YTD


($1 = 0.9234 euros)

 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))