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H&R Block fiscal Q1 loss narrows YOY

H&R Block Inc. said its normalized net income for the fiscal first quarter ended July 31 was a loss of 40 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 38 cents per share.

The per-share loss decreased year over year from 42 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $110.5 million, compared with a loss of $115.3 million in the year-earlier period.

The normalized profit margin climbed to negative 81.8% from negative 90.7% in the year-earlier period.

Total revenue rose 5.0% year over year to $133.6 million from $127.2 million, and total operating expenses came to $294.8 million, compared with $292.3 million in the year-earlier period.

Reported net income came to a loss of $109.8 million, or a loss of 40 cents per share, compared to a loss of $114.7 million, or a loss of 42 cents per share, in the prior-year period.