MOORESVILLE, N.C. — Lowe's today reported earnings of $585 million in its fiscal third quarter.

On a per-share basis, the Mooresville, North Carolina-based company said it had profit of 59 cents.

The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.

The home improvement retailer posted revenue of $13.68 billion in the period, also surpassing Street forecasts. Analysts expected $13.55 billion, according to Zacks.

Lowe's expects full-year earnings to be $2.68 per share.

Lowe's shares have increased 18 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 11 percent. The stock has increased 15 percent in the last 12 months.

PHILADELPHIA — The Philadelphia-area gambling market is set to get more competitive now that regulators voted Tuesday to award a license to Live! Hotel & Casino, a joint venture of two Eastern seaboard casino operators to be built in the city's stadium district.Live! won a four-way competition for the last casino license in eastern Pennsylvania, and the fifth in the Philadelphia region. It will be owned and operated by the Cordish Cos. of Baltimore and Greenwood Gaming & Entertainment Inc., of Bensalem, Pennsylvania.In a 172-page analysis, members said they liked the “synergy” between a casino and 8 million sports and music enthusiasts who visit 400 events per year there.