{"id":255,"date":"2024-06-27T03:29:14","date_gmt":"2024-06-27T00:29:14","guid":{"rendered":"https:\/\/candylandcasinonodepositbonus.icu\/2024\/06\/27\/sportradars-earnings-take-a-dive-in-q3-despite-revenue-growth\/"},"modified":"2024-06-27T03:29:14","modified_gmt":"2024-06-27T00:29:14","slug":"sportradars-earnings-take-a-dive-in-q3-despite-revenue-growth","status":"publish","type":"post","link":"https:\/\/candylandcasinonodepositbonus.icu\/2024\/06\/27\/sportradars-earnings-take-a-dive-in-q3-despite-revenue-growth\/","title":{"rendered":"Sportradar&#8217;s Earnings Take a Dive in Q3 Despite Revenue Growth"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\" src=\"https:\/\/www.youtube.com\/embed\/11EcLG9_SGM\" frameborder=\"0\" allowfullscreen><br>\n<\/iframe><\/p>\n<p>Sportradar\u2019s consistent operational earnings took a significant dive, dropping by a substantial 63.8% in the third quarter, reaching a mere \u20ac4.6 million (\u00a34 million\/$4.8 million).<\/p>\n<p>Sportradar\u2019s recurring operational profit plummeted by 63.8% in the third quarter, despite a 12.4% year-over-year increase in overall recurring operational income to \u20ac201 million. All of Sportradar\u2019s divisions saw expansion, particularly its \u201cRest of World (RoW)\u201d betting AV division, which experienced revenue growth of 15.0% to \u20ac38 million.<\/p>\n<p>RoW betting revenue reached \u20ac112.1 million, up 11.1%, while US revenue also expanded by 11.1% to \u20ac35 million. All other divisions saw income increase to \u20ac15.7 million.<\/p>\n<p>Sportradar\u2019s chief executive, Carsten Koerl, stated that the third-quarter results indicate the company is on course to achieve full-year growth.<\/p>\n<p>\u201cAs a leading force in the industry, we are dedicated to consistently generating value for our clients, partners, and stakeholders,\u201d he remarked. \u201cWe anticipate sustained growth in 2023 and are well-prepared for continued expansion in 2024.\u201d<\/p>\n<p>This week, Sportradar declared it would be reducing its workforce globally as part of other strategic initiatives. The company stated this would result in a 10% decrease in labor cost run rate in 2023. <\/p>\n<p>This week, the company declared job cuts across its international workforce as part of a wider set of strategic plans. These plans will empower the company to further strengthen its customer-focused organization and concentrate on future market opportunities, Kohl added.<\/p>\n<p>Net earnings decreased in the third quarter.<br>\nRegarding expenditures, Sportradar\u2019s biggest expense this quarter was operational costs of \u20ac75.3 million. This was followed by \u20ac45.2 million in purchases of services and licenses, and then \u20ac38.1 million in depreciation and amortization.<\/p>\n<p>Two costs were incurred this quarter that were not included in the third quarter of 2022. These were \u20ac9.8 million in impairment losses on goodwill and intangible assets and \u20ac5.6 million in impairment losses on the disposal of assets.<\/p>\n<p>Considering various expenses, net profit before taxes was \u20ac10.5 million, down 27.9% year-over-year. Sportradar paid \u20ac5.9 million in income tax expense, bringing profit from continuing operations to \u20ac4.6 million. Including a \u20ac0.495 million loss from discontinued operations, the profit for the period was \u20ac4.1 million.<\/p>\n<p>Adjusted EBITDA for the quarter was \u20ac50.4 million, up 38.3%.<\/p>\n<p>Earnings also declined for the first nine months.<br>\nFor the first nine months of the year, Sportradar\u2019s total revenue was \u20ac625 million, up 19.3%.<\/p>\n<p>Breaking down revenue by segment, for the first nine months, RoW betting revenue was \u20ac334.8 million and RoW betting AV revenue was \u20ac132.1 million. Sportradar\u2019s US revenue was \u20ac112.7 million, and all other segments contributed \u20ac45.2 million.<\/p>\n<p>The largest expense this period was personnel expenses at \u20ac237 million. <\/p>\n<p>Depreciation and amortization charges were \u20ac2 million and \u20ac137.9 million, respectively.<\/p>\n<p>After paying \u20ac11.5 million in taxes \u2013 nearly three times the amount from the same period last year \u2013 earnings from ongoing operations reached \u20ac11.4 million, a decline of 73.8%.<\/p>\n<p>The initial nine months witnessed a more than 50% drop in pre-tax net earnings, from \u20ac47.8 million in the first nine months of 2022 to \u20ac22.9 million.<\/p>\n<p>Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the first three quarters amounted to \u20ac127.2 million, a rise of 40.2%.<\/p>\n<p>Subscribe to the iGaming newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sportradar\u2019s consistent operational earnings took a significant dive, dropping by a substantial 63.8% in the third quarter, reaching a mere \u20ac4.6 million (\u00a34 million\/$4.8 million). Sportradar\u2019s recurring operational profit plummeted by 63.8% in the third quarter, despite a 12.4% year-over-year increase in overall recurring operational income to \u20ac201 million. All of Sportradar\u2019s divisions saw expansion, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sportradar Earnings Dive: 63.8% Drop in Q3<\/title>\n<meta name=\"description\" content=\"Sportradar\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/candylandcasinonodepositbonus.icu\/2024\/06\/27\/sportradars-earnings-take-a-dive-in-q3-despite-revenue-growth\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Sportradar&#039;s Earnings Take a Dive in Q3 Despite Revenue Growth\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Sportradar\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/candylandcasinonodepositbonus.icu\/2024\/06\/27\/sportradars-earnings-take-a-dive-in-q3-despite-revenue-growth\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Experience the Evolution of Online Casino Fun | Licensed Platform\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-27T00:29:14+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/candylandcasinonodepositbonus.icu\/2024\/06\/27\/sportradars-earnings-take-a-dive-in-q3-despite-revenue-growth\/\",\"url\":\"https:\/\/candylandcasinonodepositbonus.icu\/2024\/06\/27\/sportradars-earnings-take-a-dive-in-q3-despite-revenue-growth\/\",\"name\":\"Sportradar Earnings Dive: 63.8% Drop in Q3\",\"isPartOf\":{\"@id\":\"https:\/\/candylandcasinonodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-27T00:29:14+00:00\",\"dateModified\":\"2024-06-27T00:29:14+00:00\",\"author\":{\"@id\":\"https:\/\/candylandcasinonodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Sportradar\",\"breadcrumb\":{\"@id\":\"https:\/\/candylandcasinonodepositbonus.icu\/2024\/06\/27\/sportradars-earnings-take-a-dive-in-q3-despite-revenue-growth\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/candylandcasinonodepositbonus.icu\/2024\/06\/27\/sportradars-earnings-take-a-dive-in-q3-despite-revenue-growth\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/candylandcasinonodepositbonus.icu\/2024\/06\/27\/sportradars-earnings-take-a-dive-in-q3-despite-revenue-growth\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/candylandcasinonodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Sportradar&#8217;s Earnings Take a Dive in Q3 Despite Revenue Growth\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/candylandcasinonodepositbonus.icu\/#website\",\"url\":\"https:\/\/candylandcasinonodepositbonus.icu\/\",\"name\":\"Experience the Evolution of Online Casino Fun | Licensed Platform\",\"description\":\"Stay ahead of the curve with our comprehensive news, detailed game reviews, and informative insights. 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