H&R Block’s stock gains after results beat expectations
Shares of H&R Block Inc. HRB, -1.64% edged up 0.5% in premarket trade Thursday, after the tax preparation services company reported a narrower-than-expected loss and beat revenue expectations. The net loss for the quarter to Oct. 31 widened to $176.3 million, or 86 cents a share, from $153.6 million, or 74 cents a share, in the same period a year ago. The loss per share excluding discontinued operations was 83 cents. The FactSet per-share loss consensus was 93 cents. Revenue rose to $148.9 million from $140.9 million, above the FactSet consensus of $139.8 million. "The fiscal second quarter results reflect planned increases in expenses related to strategic investments being made in the business," said Chief Financial Officer Tony Bowen. The stock has gained 4.0% over the past three months through Tuesday, while the S&P 500 SPX, -3.24% has lost 6.2%.
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