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posted: 12/6/2012 7:22 AM

H&R Block 2Q loss narrows as revenue rises

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Associated Press

H&R Block's fiscal second-quarter loss narrowed, helped by cost-cutting efforts. Revenue climbed mostly because of a strong tax season in Australia.

The nation's largest tax preparation company typically turns in a loss in the August-to-October period because it takes in most of its revenue during the U.S. tax season.

For the three months ended Oct. 31, H&R Block Inc. lost $105.2 million, or 39 cents per share. A year earlier it lost $141.7 million, or 47 cents per share, for the quarter.

Its loss from continuing operations was 37 cents per share. Analysts expected a loss of 41 cents per share.

Revenue rose 6 percent to $137.3 million. Wall Street forecast $129.6 million.

H&R Block, based in Kansas City, Mo., prepared 25.6 million tax returns worldwide in fiscal 2012.

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