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H&R Block reports 3rd-quarter loss, misses expectations

KANSAS CITY, Mo. – KANSAS CITY, Mo. (AP) _ H&R Block Inc. (HRB) on Thursday reported a loss of $81.7 million in its fiscal third quarter.

The Kansas City, Missouri-based company said it had a loss of 35 cents per share. Losses, adjusted to account for discontinued operations and non-recurring costs, were 34 cents per share.

The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 26 cents per share.

The tax preparer posted revenue of $474.5 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $504.9 million.

H&R Block shares have declined 1 per cent since the beginning of the year, while the Standard & Poor’s 500 index has decreased 2.5 per cent. In the final minutes of trading on Thursday, shares hit $32.90, a decrease of slightly more than 2 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HRB at http://www.zacks.com/ap/HRB

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Keywords: H&R Block, Earnings Report