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Penn National Gaming: 1Q Earnings Snapshot

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WYOMISSING, Pa. (AP) _ Penn National Gaming Inc. (PENN) on Thursday reported first-quarter net income of $41 million.

The Wyomissing, Pennsylvania-based company said it had profit of 35 cents per share.

The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The casino operator posted revenue of $1.28 billion in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $1.29 billion.

For the current quarter ending in July, Penn National Gaming said it expects revenue in the range of $1.31 billion.

The company expects full-year earnings to be $1.36 per share, with revenue expected to be $5.17 billion.

Penn National Gaming shares have climbed 12% since the beginning of the year. The stock has dropped 31% 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 PENN at https://www.zacks.com/ap/PENN