Why H&R Block Stock Fell Today
Shares of H&R Block (NYSE: HRB) dropped 5% on Friday, following the release of the tax preparation company's fiscal third-quarter results.
Revenue rose 11% year over year to $519 million, topping Wall Street's expectations for revenue of $485.6 million. Acquisitions and higher demand for its assisted and do-it-yourself tax prep offerings contributed to the gains.
But Block's losses were larger than many analysts anticipated. The company produced an adjusted loss per share from continuing operations of $0.59, compared with a loss of $0.52 in the prior-year period. Consensus estimates had been for a loss of $0.55. Higher operating and interest expenses contributed to the decline.
Source Fool.com
