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KANSAS CITY - H&R Block Inc. (NYSE:HRB) reported better-than-expected fiscal third quarter results on Wednesday, sending shares up 2.6% in after-hours trading.
The tax preparation company posted adjusted earnings per share of $5.38 for the quarter ended March 31, beating analyst estimates of $5.25. Revenue came in at $2.3 billion, surpassing expectations of $2.26 billion and rising 4.2% YoY.
"Our transformation continues to gather momentum and deliver results," said Jeff Jones, president and CEO of H&R Block. "We meaningfully enhanced the new client experience this season, driving higher client satisfaction scores and improving volume and market share trends in the Assisted channel."
The company saw a 4.5% increase in net income from continuing operations to $722.9 million. U.S. assisted tax preparation revenue grew 6.6% to $1.64 billion, while DIY tax preparation revenue rose 8.1% to $214.7 million.
H&R Block reaffirmed its full-year fiscal 2025 outlook, forecasting revenue between $3.69 billion and $3.75 billion and adjusted earnings per share of $5.15 to $5.35.
"I remain confident in our ability to continue driving significant value as we have a resilient business with strong financial fundamentals, consistent cash flow generation, and a shareholder-friendly capital return practice," said CFO Tiffany Mason.
The company repurchased 6.5 million shares for $400 million in the first half of fiscal 2025 at an average price of $61.10 per share. It has approximately $1.1 billion remaining on its $1.5 billion share repurchase program.
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