Speedway Motorsports, Inc., which operates car racing facilities, reported a 162 percent growth in third quarter earnings due to the success of inaugural NASCAR Monster Energy Cup and Xfinity Series races.

The Concord-based company reported net income of $24.1 million, or 59 cents per diluted share, up from net income of $9.2 million, or 22 cents per diluted share, in the third quarter a year ago.

Revenue rose 22.5 percent to $160.1 million from $130.7 million in the same quarter a year ago.

“Major highlights this quarter include the resounding success of our inaugural NASCAR Monster Energy Cup and Xfinity Series races on Charlotte’s new 2.28-mile ROVAL, which combines the legendary oval and new world-class road course,” said Chief Executive Officer Marcus G. Smith in a statement.

Despite the growth in income, Speedway’s management believed that the company’s revenue were negatively impacted by the adverse impact of unusually poor weather or extreme heat surrounding NASCAR racing events throughout the year.

Many revenue categories were expected to be continuously affected by changing demographics, evolving media content consumption, the lingering effects of lower consumer and corporate spending, and underemployment in certain demographic groups in the future.

As a leading marketer and promoter of motorsports entertainment in the United States, Speedway Motorsports owns and operates the following facilities: Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Kentucky Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, Sonoma Raceway and Texas Motor Speedway.

Speedway’s shares rose $1.75 to $17.90 in after-hours trading on Tuesday. The earnings were released before the market opened on Wednesday.