LOUISVILLE, Ky. (AP) — LOUISVILLE, Ky. (AP) — Churchill Downs Inc. (CHDN) on Wednesday reported third-quarter earnings of $65.4 million.

The Louisville, Kentucky-based company said it had net income of 86 cents per share. Earnings, adjusted for non-recurring costs, were 97 cents per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 96 cents per share.

The racetrack operator and gambling company posted revenue of $628.5 million in the period, which missed Street forecasts. Nine analysts surveyed by Zacks expected $633 million.

Churchill Downs shares have fallen almost 1% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $134.15, a climb of 21% 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