Why Sportradar Stock Is Sinking This Week
Shares of Sportradar (NASDAQ: SRAD) are sliding this week after the release of the company's fourth-quarter earnings results. The company's share price is down roughly 8.9% according to data from S&P Global Market Intelligence.
Sportradar published its Q4 report before the market opened on March 15, posting sales that came in ahead of expectations but earnings that fell short of the market's target. The company recorded sales of roughly 206.3 million euros and non-GAAP (adjusted) earnings before interest, taxes, depreciation, and amortization (EBITDA) of 35.1 million euros. On a U.S. dollar basis, the company posted a loss of $0.11 on revenue of $220.7 million, while the average analyst estimate had called for a profit of $0.03 on sales of $208.09 million.
Sportradar posted sales growth of 35.4% year over year in the fourth quarter, with strong performance driven in part by last year's World Cup. Additionally, the company continued to gain ground with its U.S. segment revenue climbing 77% compared to the prior-year period. But despite the strong sales growth, investors are worried about rising costs at the business.
Source Fool.com
