LOUISVILLE, Ky. (AP) — LOUISVILLE, Ky. (AP) — Churchill Downs Inc. (CHDN) on Wednesday reported first-quarter profit of $76.7 million.
The Louisville, Kentucky-based company said it had profit of $1.02 per share. Earnings, adjusted for non-recurring costs, came to $1.07 per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share.
The racetrack operator and gambling company posted revenue of $642.6 million in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $647 million.
Churchill Downs shares have dropped 21% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $104.89, a decrease of 15% 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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