Tax service provider H&R Block (NYSE: HRB) reported its first quarter 2021 results after the bell today. While the non-GAAP earnings of $0.55 per share surpassed the market’s estimates, the revenue of $601 million in Q1 failed to meet the consensus estimates.
HRB shares were trading up about 2% immediately after its earnings announcement.
On the bottom line, the company reported a profit, both on GAAP and non-GAAP basis. Revenue climbed by 300% in the first quarter due to the extension of the US tax season and increased international tax preparation fees due to the extension of the Canadian tax season.
Also read: Will new business model help H&R Block (HRB) deal with the taxing times?
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