H&R Block's tax-season revenue rises

H&R Block Inc. reported an 8.5 percent increase in tax-preparation revenue from Nov. 1 to March 31, compared with the prior year.

Kansas City-based Block (NYSE: HRB) said Monday that it earned $2.2 billion in tax-preparation fees for the period, up from almost $2.1 billion the previous year.

The company served 16.8 million clients in the period, up 2.6 percent from 16.4 million the prior year. Retail office clients reached 13.3 million, up 4.2 percent from 12.8 million the previous year.

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Digital tax clients decreased 3.2 percent to 3.5 million, from last year's 3.6 million clients. This is an improvement from the 6.5 percent decline in digital clients recorded for Nov. 1-March 15.

The company's net average fee from Nov. 1 to March 31 reached $168.61, up 4.3 percent from $161.72 the previous year.

Block ranks No. 3 on the Kansas City Business Journal's list of area public companies.