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H&R Block’s first-quarter revenue rose 10% to $224.3 million, beating analysts’ $212.3 million estimate, while the tax preparation company’s net loss widened to $188.5 million as operating expenses increased.
The company reported a loss of $1.53 a share, compared with $165.8 million, or $1.26 a share, a year earlier. Operating expenses climbed 11% from the same period last year. On an adjusted basis, H&R Block lost $1.40 a share, narrower than the $1.43 loss analysts polled by FactSet had expected.
Revenue growth reflected gains in U.S. tax preparation, international services, tax protection and identity services, and small-business services, the company said.
H&R Block repurchased and retired 2.2 million shares during the quarter for a total of $100.3 million, or $45.68 per share. About $500 million remains in its share repurchase program.
The company reaffirmed its 2027 outlook: adjusted earnings per share of $6.04 to $6.24 and revenue of $4.11 billion to $4.16 billion. FactSet analysts expect adjusted earnings of $6.14 a share and revenue of $4.13 billion.
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