KANSAS CITY, Mo. — H&R Block Inc.’s net loss widened in its fiscal third quarter because of a delay in the start of this year’s tax season.
The tax-preparation company, based in Kansas City, Mo., said Thursday that its net loss in the three months ended Jan. 31 was $17.7 million, or 7 cents per share. That compares with a loss of $3.3 million, or a penny per share, in the same period a year earlier.
Revenue fell 29 percent, to $472 million.
H&R Block said business was slow in the quarter because the Internal Revenue Service delayed accepting tax returns until Jan. 31. The company said the process usually begins in mid-January.
The company believes that tax filings are arriving roughly two weeks later than they did last years but that volume will recover.