H&R Block results beat estimates, stock soars

Tax preparer H&R Block Inc (HRB.N: Quote, Profile, Research, Stock Buzz) said on Monday it swung to a quarterly profit from a loss, beating estimates, as the weak dollar helped drive revenue 11 percent higher.

Shares of the biggest U.S. tax services company jumped 8.5 percent before the market opened as the company forecast a full-year profit that was also higher than the market was expecting.

The company reported a fiscal fourth-quarter net profit of $543.6 million, or $1.66 per share, compared with a loss of $85.6 million, or 26 cents per share, in the same quarter a year ago.

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- Posted: 2008-06-30 09:41:12

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