Tax prep giant H&R Block reported a first-quarter loss of $173.4 million versus a loss of $127.6 million in the year-ago first quarter, which included a $62.2 million after-tax charge related to the pending sale of the RSM McGladrey unit.

Meanwhile, system-wide revenues slipped 2.5 percent for the period ended July 31, to $276.6 million compared to the year-ago first quarter.

“Our first quarter results were in line with our expectations,” said Bill Cobb, H&R Block’s president and chief executive officer. “As we finalize our plans for next tax season, we are confident that we can continue driving organic growth in our core business by attracting and retaining more clients.”

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access