News
H&R Block Stock Jumps on Earnings Beat, Dividend Raise
Paul Weaver / SOPA Images / LightRocket via Getty Images
Key Takeaways
H&R Block ( HRB ) shares are soaring Friday, a day after the tax-prep firm reported higher-than-forecast fourth-quarter results.
H&R Block said revenue for the three months to June 30 edged higher to $1.06 billion from $1.03 billion a year ago, while net profit fell to $257.8 million from $302.3 million. Both beat consensus analysts' estimates compiled by Visible Alpha.
After registering adjusted earnings per share (EPS) of $4.14 on revenue of $3.61 billion in the 2024 fiscal year, the company sees fiscal 2025 adjusted EPS of $5.15 to $5.35 on revenue between $3.69 billion and $3.75 billion.
The company also said it would issue a quarterly dividend of 37.5 cents a share, a 17% increase, and a new share-buyback program of $1.5 billion.
CEO Touts 'Client Success,' Sees Momentum Building
"We continue to make progress, gain new insight, and translate this client success into value for shareholders, and are well positioned to build on this momentum in fiscal 2025 and beyond,"
Chief Executive Officer (CEO)
Jeff Jones said.
H&R Block shares soared 18% soon after the opening bell Friday to $67.86. They are up almost 40% this year.
Read the original article on Investopedia .