H&R Block Stock Pops on Q1 Earnings Beat

HRB stock gained about 3.5% after hours

H&R Block (NYSE:HRB) stock was up more than 3% after the bell on Tuesday as the company reported its latest quarterly earnings results late in the day, which included a strong earnings and revenue showing as it kicks off its new fiscal year with a bang.

H&R Block StockThe tax preparation services provider said that for its first quarter of fiscal 2019, it brought in a loss of $152.7 million, or 74 cents per share. When adjusted to consider discontinued operations, the company’s loss came in at 72 cents per share.

H&R Block’s adjusted loss was narrower than what Wall Street was calling for as the Zacks Investment Research forecast was projecting an adjusted loss of 79 cents per share, according to a survey of four analysts.

The company added that its revenue for the period came in at $145.18 million, which was stronger than the Wall Street consensus estimate by 6.4%, according to Zacks. The figure also beat the $137.8 million in revenue that H&R Block brought in during the year-ago quarter.

HRB stock fell about 1.8% during regular trading hours in anticipation of the company’s quarterly earnings results. The strong results for its first quarter of fiscal 2019 helped lift the company’s shares up about 3.5% after the bell.

Article printed from InvestorPlace Media, https://investorplace.com/2018/08/hr-block-stock-hrb/.

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