H&R Block shares traded slightly lower during after-hours Wednesday, following its report of a fiscal first-quarter loss that was almost unchanged from the prior-year period.
The tax-services provider’s quarterly loss came in at -74 cents a share, flat from a year earlier. Its H&R's net loss from continuing operations was -72 cents a share, the same as a year earlier. Analysts polled by FactSet were expecting a net loss of -75 cents a share.
Revenue increased +3.6% year-over-year to $150 million in the quarter, falling behind the Street expectations of $151.4 million (based on FactSet poll of analysts).
H&R Block tried to emphasize that a first-quarter loss is an usual part of the seasonal nature of the company’s business. The fiscal first quarter accounts for less than 5% of annual revenue and less than 15% of annual expenses, according to the company.