KANSAS CITY, Mo. (AP) _ H&R Block Inc. (HRB) on Wednesday reported a loss of $188 million in its fiscal second quarter.
The Kansas City, Missouri-based company said it had a loss of 95 cents per share. Losses, adjusted for amortization costs and to account for discontinued operations, came to 85 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 91 cents per share.
The tax preparer posted revenue of $160.8 million in the period.
H&R Block shares have dropped almost 8% since the beginning of the year, while the Standard & Poor's 500 index has risen 24%. In the final minutes of trading on Wednesday, shares hit $23.42, a decrease of 15% in the last 12 months.