H & R Block Inc (NYSE: HRB ) shares are soaring Wednesday as the company reported its quarterly earnings data after hours Tuesday.
However, the figure still topped the 52-cent-per-share loss that the consensus estimate called for. Revenue amounted to $451.9 million, beating the projection of $427.4 million, but failing to reach the heights of the previous year when H&R Block raked in $474.5 million.
The company also unveiled that shareholders will receive a quarterly dividend of 22 cents per share, as long as they're on record as of Tuesday, March 14, marking an 88-cent dividend on an annualized basis. Eleven analysts covering gave HRB an average rating of a "hold," with seven analysts giving the company this rating.
The company also unveiled that it is on Donald Trump's side regarding his tax reform plans as H&R Block believes the move will help citizens, despite a lot of uncertainty surrounding the plans.
"People are going to be confused. I think they're going to turn to us for help," CEO Bill Cobb said during a session with investment analysts Tuesday. "I'm puzzled why people think this is a negative for us."
HRB stock is up 16.3% Wednesday afternoon.
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