Sportradar Group AG ( NASDAQ: SRAD ) gained 15.37% on Wednesday after topping consensus marks with its Q3 earnings report and reporting the first profit for its U.S. business
Revenue was up 61% year-over-year to €32M for the U.S. business with strength noted by management across the board. Betting and gaming revenue grew 144% year-over-year due to growth of the underlying betting markets. The company said that growth was a good indication of adaption of in-play by U.S. customers.
During the earnings call, CEO Carsten Koerl said the company sees profitability growing forward in the U.S. segment.
Read the Sportradar earnings call transcript.
Dig further into the SRAD earnings report.
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Why did Sportradar stock surge today? The U.S. business is taking off