Connect to share and comment

H&R Block points to tough tax season as 4th-qtr results fall short of Wall Street forecast

PlacardEnlarge
(Globalpost/GlobalPost)

KANSAS CITY, Mo. - H

The tax preparation company was able to cut costs to help offset weaker revenue stemming from these conditions, but it reported fiscal fourth-quarter results that fell short of market expectations.

H

Total revenue increased to $2.2 billion from $2 billion.

Analysts, on average, expected earnings of $2.61 per share, on revenue $2.28 billion, according to FactSet.

The company decided this year to increase its push for assisted and digital do-it-yourself categories as part of a long-term growth strategy. H

H

The company earned $433.9 million, or $1.58 per share, for the full fiscal year versus $265.9 million, or 89 cents per share, last year. It earned $1.59 per share on an adjusted basis. Revenue increased to $2.91 billion from $2.89 billion.

Shares of the Kansas City, Mo.-based rose 17 cents in after-hours trading to $29. The stock was down about 2 per cent at the end of regular trading.

http://www.globalpost.com/dispatch/news/the-canadian-press/130612/hampr-block-points-tough-tax-season-4th-qtr-results-fall-sho