H&R Block Loss In Line With Estimates; Revenue Beats

(RTTNews) - H&R Block Inc (HRB), the world's largest consumer tax services provider, Wednesday reported first-quarter net loss of $116.2 million or $0.42 per share compared with a loss of $115.2 million or $0.42 per share last year.

Results for the quarter included $7 million loss from discontinued operations.

Excluding items, adjusted loss for the quarter was $0.40 per share.

Revenues for the quarter were up 5% at $134 million compared with $127 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.40 per share on revenues of $130.2 million for the quarter. Analysts' estimates typically exclude special items.

The company typically reports a first quarter operating loss due to the seasonality of its core U.S. tax business.