(RTTNews) - H&R Block, Inc. (HRB) on Tuesday reported fourth-quarter profit that slipped from last year, despite an increase in revenues as operating expenses increased.
Net income for the quarter was $293.7 million, or $2.28 per share, compared with $299.4 million, or $2.19 per share, in the year-ago quarter.
Total revenue increased 2.5% to $1.14 billion from $1.11 billion a year earlier. Total operating expenses rose to $843.0 million from $794.4 million.
Adjusted net income from continuing operations increased to $307.4 million, or $2.38 per share, from $311.6 million, or $2.27 per share, in the prior-year quarter.
Revenue from U.S. assisted tax preparation increased to $726.1 million from $704.1 million, while U.S. DIY revenue declined to $189.8 million from $202.5 million. International revenue rose to $62.1 million from $54.9 million, and Wave revenue increased to $35.2 million from $32.1 million.
For fiscal 2027, the company expects revenue of $4.11 billion to $4.16 billion, adjusted EBITDA of $1.11 billion to $1.14 billion and adjusted earnings of $6.04 to $6.24 per share.
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