H&R Block Misses Street 2Q Forecasts

KANSAS CITY, Mo. (AP) -

H&R Block Inc. on Monday reported a loss of $112 million in its fiscal second quarter.

On a per-share basis, the Kansas City, Missouri-based company said it had a loss of 41 cents. Losses, adjusted for one-time gains and costs, came to 45 cents per share.

The results missed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for a loss of 42 cents per share.

The tax preparer posted revenue of $134.6 million in the period, which also missed Street forecasts. Analysts had expected $145.2 million, according to Zacks.

H&R Block shares have increased 17 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 11 percent.

On Monday, shares closed at $34.05, a climb of about 17 percent in the last 12 months.