H&R; Block Inc., the largest U.S. tax...
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H&R; Block Inc., the largest U.S. tax preparation company, said fiscal third-quarter profit fell 19% because of smaller gains from selling mortgages. Earnings from its tax business doubled.
Net income for the three months ended Jan. 31 declined to $106.7 million, or 59 cents a share, from $132.3 million, or 73 cents. Profit included a 6-cent gain from selling mortgages.
Third-quarter revenue increased 2% to $977.2 million. Profit from tax preparation doubled to $68.2 million because of higher revenue and cost cutting, the company said.
H&R; Block shares fell 45 cents to $58.50 on the NYSE.
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