Boston, MA 06/12/2014 (wallstreetpr) – Provider of consumer tax services H & R Block Inc (NYSE:HRB) announced a sharp increase in profit for the fourth quarter driven by a similar uptick in the top line thereby allowing it to top Street analysts’ expectations.
4Q Results
The company reported profit from continuing operations of $929.13 million, up 35% from $688.92 million and the earnings advanced 34% to $3.36 a share from $2.51 a share in the year earlier period. Net income also surged 37% to $910.0 million from $664.3 million and the earnings climbed 35% to $3.29 a share from $2.42 a share in the year-ago quarter. On average, Street analysts’ predicted the company to earn $3.23 a share.
Total revenue grew 16.4% to $2.56 billion from $2.2 billion in the previous year quarter. Analysts, on average, expected H & R Block to generate revenue of $2.49 billion.
FY14 Results
Similarly, H & R Block Inc (NYSE:HRB) reported net profit of $500 million for the fiscal year 2014, up 7.5% from $465 million and the earnings rose 7.1% to $1.81 a share from $1.69 a share in the prior year. On an adjusted basis, profit grew to $462 million or $1.67 a share from $438 million or $1.59 a share in the previous year.
Total revenues advanced 4.1% to $3.02 billion from $2.91 billion in the last year. On average, analysts expected H & R Block to earn $1.64 a share on revenues of $2.95 billion for the fiscal year 2014.
The company attributed revenue uptick to improved changes and mix to its pricing tactics in retail locations, monetization efforts and digital tax software product improvements besides higher revenue from its tax plus financial services.
Dividend
H & R Block had earlier announced a quarterly dividend of 20 cents a share in cash payable on July 1 to its shareholders, whose name appears on June 16. H & R Block Inc (NYSE:HRB) has been rewarding its shareholders by way of dividend for the 207th straight quarter after it went public in 1962.
