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Stock Alert: H&R Block Dips 10% On Earnings Miss

Shares of tax preparation and e- filing service provider H&R Block, Inc. (HRB) are down more than 10% Friday morning after missing third-quarter earnings.

Net loss for the third quarter widened to $128 million or $0.66 per share from net loss of $120 million or $0.58 per share in the same quarter a year ago. Excluding items, loss per share of $0.59 missed the average estimate of 9 analysts polled by Thomson Reuters at $0.55.

Revenue, however, increased 11% year-over-year to $519 million, due to improved tax return volumes in both Assisted and DIY, as well as revenues from acquired franchises and Wave.

HRB is currently at $18.61 and has traded in the range of $17.61- $29.62 in the last one year.

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