H&R Block shares plunge 14% after company’s Q1 results
Shares of H&R Block Inc. fell more than 14% late Tuesday after the tax-preparation company reported a first-quarter earnings beat and increased its dividend. H&R Block said it earned $1.14 billion, or $5.45 a share, in the quarter, compared with $783 million, or $3.77 a share, in the year-ago period. Revenue rose to $2.39 billion, from $2.33 billion a year ago. Analysts polled by FactSet had expected GAAP earnings of $5.23 a share on sales of $2.34 billion. For the year, about 20 million tax returns were prepared by or through H&R Block in the U.S., a 2.5% increase over fiscal 2017, the company said. The company also announced a 4% dividend increase to 25 cents a share, payable on July 2. Shares had ended the regular trading day up 0.8%.
Source : MTV
