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H&R Block fiscal Q2 loss widens 11.8% YOY

H&R Block Inc. said its normalized net income for the fiscal second quarter ended Oct. 31 amounted to a loss of 46 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 42 cents per share.

The per-share loss widened 11.3% year over year from 41 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $125.4 million, compared with a loss of $112.1 million in the year-earlier period.

The normalized profit margin dropped to negative 93.6% from negative 83.4% in the year-earlier period.

Total revenue totaled $134.6 million, compared with $134.3 million in the prior-year period, and total operating expenses increased 6.0% on an annual basis to $319.1 million from $301.2 million.

Reported net income came to a loss of $112.8 million, or a loss of 41 cents per share, compared to a loss of $104.1 million, or a loss of 38 cents per share, in the year-earlier period.