H&R Block, Inc. (HRB), the largest U.S. tax preparer, reported a net loss for the third quarter of $17.7 million or $0.07 per share, compared to a net loss of $3.3 million or $0.01 per share for the year-ago quarter.
Loss from continuing operations for the third quarter was $16.9 million or $0.06 per share, compared to $3.6 million or $0.01 per share in the prior year quarter.
Excluding items, adjusted net loss from continuing operations for the latest quarter was $60.5 million or $0.22 per share.
Total revenues for the third quarter fell 29% to $472.0 million from $663.3 million a year ago, mainly driven by timing issues from the IRS opening its e-file system on January 30 and the resulting delays to the start of the U.S. tax season
Analysts polled by Thomson Reuters expected the company to report a loss of $0.01 per share on revenue of $563.60 million for the third quarter.
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