H&R Block ( HRB) swung to a profit of $47.4 million, or 14 cents a share, in the third quarter from a year-earlier loss of $47.4 million, or 14 cents a share, as it experienced growth in the number of tax returns prepared and higher tax preparation fees.

Revenue in the quarter rose to $993.4 million from $894.8 million in the same period a year earlier. Tax services revenue rose 15.1% to $761.7 million.

Income from continuing operations in the third quarter ended Jan. 31 was $66.8 million, or 20 cents a share, up from $7.1 million, or 2 cents a share, a year earlier.

Analysts surveyed by Thomson Reuters expected earnings of 10 cents a share on revenue of $975.3 million.

The company said the number of tax returns its retail offices and digital products prepared increased 3% through the first month of the income tax season.
Copyright 2008 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

If you liked this article you might like

Closing Bell: Netflix Boosts Tech Names; Trump Gives Broad Tax Brushstrokes

Stocks Hold Onto Gains as Trump Talks Tax Reform

Stocks Struggle for Direction as Tech Names Rise, Energy Falls

Time to Exit H&R Block Trade