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H&R Block sees revenue gain during tax season

H&R Block sees revenue gain during tax season despite decline in share of returns

Associated Press

KANSAS CITY, Mo. (AP) -- Tax preparer H&R Block Inc. said its share of total U.S. tax returns declined after it ended its free federal filing service promotion, but revenue edged up.

The company said U.S. revenue rose despite a 3.6 percent drop in the number of tax returns prepared to 20.7 million during the tax season — the beginning of the year through April 18.

It said revenues were helped by changes to pricing, improved client mix and online monetization efforts. It did not detail the revenue gain.

Total H&R Block assisted returns fell 6.1 percent to 13.6 million from 14.4 million last year. That includes a 7.9 percent decline at company owned offices and a 2.9 percent decline and franchise offices.

Tax returns prepared through H&R Block's online software rose 0.7 percent during the period.

Shares ended the day down 23 cents at $27.40. The stock is down 6 percent since the beginning of the year.