H&R Block losses widen

Posted 3/7/2018

H&R Block saw its shares rise over 9% yesterday, after it reported a wider-than-expected fiscal third-quarter 2018 loss but quarterly revenues that came in above expectations. In the three months to January 31st, the tax preparation firm lost $245.6m significantly up on the $104.5m it lost 12 months earlier. Revenue increased 8%, however, to $488m, from $452m, driven by increased return volumes in its assisted and do-it-yourself tax preparation businesses. H&R Block also said it prepared 10.697m returns through February 28th, up from 10.345m a year ago. Chief executive Jeff Jones said the results from the first half of this year's tax season show H&R Block is building on its momentum.

Kansas City Star Market Watch