H&R Block revenue rose 3.9 percent for the third quarter ended March 31. The recently released results show the number of tax returns prepared dropped by 14.9 percent year-over-year, largely reflected the extension of tax season in 2021 to May.
The 14,009 U.S. returns prepared by the end of the quarter, off from 16,463 in the 2021 season through March 31.
The company reported net income of $673.2 million for the most recently ended period, a decline of 11.2 percent from $748.2 million a year earlier.
The net average charge rose to. $234.59 per cent, for company-owned stores, a 6-percent increase from $221.25 from a. year ago. At franchised operations, the price rose to $229.64 per return, up 9.1 percent from $210.56 per return.
In an earnings webcast for the quarter, CEO Jeff Jones said the increase in average charge was “primarily driven by favorable mix as we serve more complex businesses, and to a lesser extent, low single-digit price increases.” Jones attributed the increase in complex filers to xpansion of the child tax and earned income tax credits and more retail and crypto investors
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards. Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that. A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
