H&R Block reports strong tax season
The extended season helped H&R Block notch strong financial results for the first quarter of its fiscal 2021 compared with the prior year, as revenues increased 300 percent to $601 million.
A strong finish to the season also resulted in total U.S. tax filing growth of 3.3 percent, the company said.
Block’s total operating expenses increased $103 million (30 percent) to $448 million due to compensation and other expenses on the increase in revenue, as well as increases in marketing related to the extended season.
The company reported pretax earnings of $124 million, compared to a pretax loss of $207 million in the prior year.