Why Sportradar Shares Are Rising Today

Sportradar Group AG SRAD shares are trading higher after the company reported better-than-expected third-quarter sales results and raised its full-year 2022 revenue guidance.

Sportradar reported quarterly sales of $175.20 million which beat the analyst consensus estimate of $172.08 million.

The company also raised its full-year 2022 revenue guidance from a range of €695 million to €715 million to a new range of €718 million to €723 million.

Sportradar Group AG is a technology platform enabling next-generation engagement in sports, and a provider of B2B solutions to the global sports betting industry.

According to data from Benzinga Pro, Sportradar shares were up about 14% at $11.57 per share on Wednesday at the time of publication.

The stock has a 52-week high of $24.54 and a 52-week low of $7.10.