Stock Alert: H&R Block Declines 6% Despite Strong Q4 Results

Shares of tax preparation services company H&R Block Inc. (HRB) are down 8 percent on Wednesday's trading even as the company's fourth-quarter profit more-than-doubled.

During the three-month period, the company's income was $949.25 million or $5.13 per share, higher than $460.40 million or $2.37 per share in last year's fourth quarter. Excluding items, H&R Block reported adjusted earnings of $955.44 million or $5.16 per share for the period.

Analysts had expected the company to earn $5.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 28.7 percent to $2.33 billion from $1.81 billion last year.

HRB is now trading at $23.04, down $2.20 or 6% on the NYSE. The stock has traded between $51.32 and $85.03 during the past 52 weeks.

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