LOUISVILLE, Ky. (AP) — LOUISVILLE, Ky. (AP) — Churchill Downs Inc. (CHDN) on Wednesday reported fourth-quarter earnings of $71.7 million.
On a per-share basis, the Louisville, Kentucky-based company said it had net income of 95 cents. Earnings, adjusted for non-recurring gains, were 92 cents per share.
The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.
The racetrack operator and gambling company posted revenue of $624.2 million in the period, surpassing Street forecasts. Eight analysts surveyed by Zacks expected $616.2 million.
For the year, the company reported profit of $426.8 million, or $5.68 per share. Revenue was reported as $2.73 billion.
Churchill Downs shares have dropped 10% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $119.54, a rise of roughly 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
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