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


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.


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


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.