H&R Block Shares Fall; Net Rises 6.9%
KANSAS CITY, Mo. (
) --
H&R Block
(HRB) - Get Report
said net income rose 6.9% in the fiscal third quarter to $50.6 million, or 15 cents a share, as revenue fell because it prepared fewer tax returns.
H&R Block shares fell in after-hours trading Monday by 44 cents, or 2.63%, to $16.30.
H&R Block said total revenue fell 6% to $934.9 million from $993.4 million a year earlier.
Analysts polled by Thomson Reuters has expected earnings of 14 cents a share on revenue of $949.6 million.
H&R Block said total revenue at its tax services segment fell 6.2% from last year to $747.7 million, primarily from a 7.1% drop in total retail tax returns prepared.
The company issued an interim outlook through Feb. 28, saying its retail same-office tax returns prepared fell 6.8% from the same period a year earlier, while total retail tax returns prepared through Feb. 28 were down 9.4%.
-- Reported by Joseph Woelfel in New York.
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