H&R Block posts 2 percent dip in 4th-qtr profit as economy cuts into tax preparation business

Slow tax season leads to H&R Block 4Q profit dip

KANSAS CITY, Mo. — H&R Block Inc. says a weak tax season led to a 2 percent decline in fiscal fourth-quarter net income.

Uncertainty about its business and the economy kept the nation’s largest tax preparation company from issuing guidance for its new fiscal year.

Block posted net income of $690.8 million, or $2.10 per share. Revenue fell 5 percent to $2.34 billion.

Wall Street was expecting profit of $2.04 per share, on revenue of $2.34 billion.