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H&R Block fiscal Q3 loss narrows YOY

H&R Block Inc. said its normalized net income for the fiscal third quarter ended Jan. 31 came to a loss of 21 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 15 cents per share.

The per-share loss narrowed 74.0% year over year from 79 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $56.8 million, compared with a loss of $217.4 million in the prior-year period.

The normalized profit margin climbed to negative 11.2% from negative 108.8% in the year-earlier period.

Total revenue increased on an annual basis to $509.1 million from $199.8 million, and total operating expenses climbed 11.5% on an annual basis to $584.2 million from $524.1 million.

Reported net income came to a loss of $35.8 million, or a loss of 13 cents per share, compared to a loss of $213.8 million, or a loss of 78 cents per share, in the year-earlier period.