More on H&R Block (HRB): FQ3 misses on all counts as total sales declined by 29% Y/Y. Net...

|By:, SA News Editor

More on H&R Block (HRB): FQ3 misses on all counts as total sales declined by 29% Y/Y. Net losses also widened as a delay to the start of the U.S. tax season negatively impacted its top line. Even so, the company only deferred $15M of revenue into FQ4, which doesn't even come close to mitigating its $91.6M shortfall for the current quarter. Gross margin also narrowed to 20% from 31.4%, due to the revenue decrease. Despite the miss, optimism over a potential pickup in U.S. tax volume has the stock +3.3% AH.