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LOUISVILLE, Ky. (AP) — LOUISVILLE, Ky. (AP) — Churchill Downs Inc. (CHDN) on Wednesday reported fourth-quarter profit of $57.6 million.
The Louisville, Kentucky-based company said it had profit of 76 cents per share. Earnings, adjusted for non-recurring costs, came to 86 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.
The racetrack operator and gambling company posted revenue of $561.2 million in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $551.3 million.
Churchill Downs shares have declined 13% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $117.43, a decline of 3% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CHDN at https://www.zacks.com/ap/CHDN