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H&R Block tops estimate
CommentsKANSAS CITY, Mo. – H&R Block Inc., the nation’s largest tax preparer, reported better-than-expected profit Monday for its fiscal fourth quarter as higher fees and more consumer financial services income offset a decline in the number of tax returns it prepared.
The Kansas City, Mo.-based company said it earned $706.9 million, or $2.09 per share, during the three months ended April 30. That’s up from year-ago profit of $543.6 million, or $1.66 per share.
Revenue for the quarter sank 3 percent to $2.47 billion. Tax services revenue declined 3.2 percent during the quarter to $2.1 billion as the number of clients coming into H&R Block’s retail offices to have their taxes prepared declined in a shift toward online filing.
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