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.Copyright © 2014 Paddock Publications, Inc. All rights reserved.