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H&R Block Shares Many Happy Returns as Profits, Sales Soar


H&R Block is climbing higher in Wednesday's session after the consumer tax services company finished its fiscal year on a high. After shedding its brokerage and mortgage segments earlier in the year, the slimmed-down accounting firm pinned its hopes on tax season to make up for a weaker first, second and third quarter. H&R Block posted profits of $3.24 a share, beating analysts' estimates by a penny. Revenue surged 16% to $2.56 billion, $71.5 million higher than expectations. Increased services prices helped to offset a drop in total number of returns prepared. Keris Lahiff reports from Wall Street.