Why H&R Block Stock Just Tanked

·2 min read
Why H&R Block Stock Just Tanked

Shares of tax advisory company H&R Block (NYSE: HRB) are down 6.8% as of 2:55 p.m. EDT, despite the company reporting an earnings beat after close of trading yesterday. Analysts had forecast that H&R Block would earn $5.13 per share in its fiscal fourth quarter 2021 (pro forma), but in fact, the company says its adjusted profit was $5.16. Although analysts were disappointed, H&R Block notes that its revenue for all of fiscal 2021 grew 29% year over year to $3.4 billion, and its net income for the year was a robust $3.11 per share -- more than 100 times the $0.03 per share in profit booked in fiscal 2020.

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