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