LOUISVILLE, Ky. (AP) — LOUISVILLE, Ky. (AP) — Churchill Downs Inc. (CHDN) on Wednesday reported first-quarter net income of $155.7 million.
The Louisville, Kentucky-based company said it had net income of $4.09 per share. Earnings, adjusted for non-recurring gains, came to $1.96 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.74 per share.
The racetrack operator and gambling company posted revenue of $559.5 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $537.8 million.
Churchill Downs shares have climbed 19% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $251.84, an increase of 25% in the last 12 months.
_____
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
Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
