H&R Block’s net loss widened in its fiscal third quarter because of a delay to the start of this year’s tax season.
The tax preparation company, based in Kansas City, Mo., said Thursday that its net loss in the three months ended Jan. 31 was $17.7 million, or 7 cents per share. That compares with a loss of $3.3 million, or a penny per share, in the same period a year earlier.
Revenue fell 29 percent, to $472 million. Adjusting for one-time items, H&R Block’s loss was $60 million, or 22 cents per share. The results were weaker than Wall Street had expected. Analysts surveyed by FactSet had, on average, anticipated an adjusted loss of a penny per share on revenue of $563.6 million.
News Tribune news services
JOIN THE DISCUSSION | Register here
We welcome comments. Please keep them civil, short and to the point. ALL CAPS, spam, obscene, profane, abusive and off topic comments will be deleted. Repeat offenders will be blocked. Thanks for taking part — and abiding by these simple rules. A thorough explanation of rules of conduct can be found in our Terms of Service. If you have any questions, including why your comment may not be showing immediately after you submit it, be sure to visit the commenting FAQ.