On August 9 2023, SPORTRADAR GROUP ($NASDAQ:SRAD) reported their earnings results for the second quarter of their fiscal year 2023, as of June 30. Revenue for the quarter totalled EUR 216.4 million, a 22.1% increase from the same period the previous year. Unfortunately, their net income for this quarter was EUR 0.09 million, a 99.6% decrease from the same quarter in the prior year.
On Wednesday, SPORTRADAR GROUP reported its Q2 2023 earnings results for FY2023. Following the announcement, the stock opened at $13.3 before dropping 10.9% to a close of $12.7. This marks a significant decline from its last closing price of $14.2. The disappointing results were due to lower-than-expected margins and higher costs associated with the company’s new content offerings.
Moreover, the company’s efforts to expand into new markets, such as esports and virtual sports, have not yielded the desired results so far. Overall, while SPORTRADAR GROUP may have reported a challenging quarter, investors remain hopeful that the company can rebound and deliver better performance in the future. With its focus on innovation and expansion, SPORTRADAR GROUP is well-positioned to take advantage of long-term growth opportunities in the sports media industry. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for Sportradar Group. More…
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Balance Sheet Snapshot
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Balance Sheet (Yearly/ Quarterly)
Balance Sheet Supplement
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Key Ratios Snapshot
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As GoodWhale, we have done a detailed analysis of the financial and business aspects of SPORTRADAR GROUP. Our Risk Rating has determined that SPORTRADAR GROUP is a medium risk investment. We have detected two risk warnings in the income sheet and balance sheet of SPORTRADAR GROUP. In order to review this further, feel free to register on our platform, goodwhale.com, to gain access to our detailed analysis. More…
Risk Rating Analysis
Star Chart Analysis
The company has a strong presence in the European market and is a leading provider of sports data and information services in the United States. The company’s main competitors are Auddia Inc, Riskified Ltd, and ON24 Inc.
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Sportradar Group recently reported their financial results for the second quarter of 2023, showing total revenue of EUR 216.4 million, a 22.1% increase when compared to the same period last year. However, net income was down 99.6% year over year to EUR 0.09 million, resulting in a significant decline in the stock price on the day of the announcement. From an investing perspective, this could be seen as a sign of potential weakness in the company’s fundamentals, and investors should continue to closely monitor the company’s performance going forward.