Churchill Downs: Q1 Earnings Snapshot

LOUISVILLE, Ky. (AP) — LOUISVILLE, Ky. (AP) — Churchill Downs Inc. (CHDN) on Wednesday reported first-quarter profit of $80.4 million.

The Louisville, Kentucky-based company said it had profit of $1.08 per share. Earnings, adjusted for non-recurring costs, came to $1.13 per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.

The racetrack operator and gambling company posted revenue of $590.9 million in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $558.9 million.

Churchill Downs shares have declined nearly 9% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $123.39, a fall 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