Churchill Downs: Q3 Earnings Snapshot

LOUISVILLE, Ky. (AP) — LOUISVILLE, Ky. (AP) — Churchill Downs Inc. (CHDN) on Wednesday reported third-quarter profit of $61 million.

The Louisville, Kentucky-based company said it had profit of 79 cents per share. Earnings, adjusted for non-recurring costs, came to 87 cents per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.

The racetrack operator and gambling company posted revenue of $572.5 million in the period, which matched Street forecasts.

Churchill Downs shares have increased nearly 3% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $108.43, a rise of 4% 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