LOUISVILLE, Ky. (AP) _ Churchill Downs Inc. (CHDN) on Wednesday reported second-quarter net income of $108.3 million, after reporting a loss in the same period a year earlier.

The Louisville, Kentucky-based company said it had profit of $2.76 per share. Earnings, adjusted for one-time gains and costs, came to $3.08 per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.56 per share.

The racetrack operator and gambling company posted revenue of $515.1 million in the period.

Churchill Downs shares have fallen slightly more than 3% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $188.21, a climb of 50% 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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