LOUISVILLE, Ky. (AP) _ Churchill Downs Inc. (CHDN) on Wednesday reported fourth-quarter profit of $17.1 million.

The Louisville, Kentucky-based company said it had profit of 43 cents per share. Earnings, adjusted for non-recurring gains and to account for discontinued operations, were 19 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.

The racetrack operator and gambling company posted revenue of $278.2 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $275.5 million.

For the year, the company reported a loss of $81.9 million, or $2.08 per share, swinging to a loss in the period. Revenue was reported as $1.05 billion.

Churchill Downs shares have increased 22% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $236.67, a rise of 51% 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

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