H&R Block, Inc. (HRB), a global tax preparation company yesterday reported their fiscal first quarter 2017 financial results. H&R Block reported fourth quarter net income of $783.4 million.

H&R Block reported fourth quarter adjusted earnings of $3.76 per share which beat analyst expectations of $3.51 per share. H&R Block reported fourth quarter revenues of $2.3 billion.   

H&R Block, Inc. CEO’s  Comments

“We came into this year with a very aggressive goal to change the client trajectory.  With competitive promotions, impactful marketing and an improved client experience, we achieved this goal and also produced strong financial results, all during a year in which the industry experienced a decline in returns,” said Bill Cobb, H&R Block’s president and chief executive officer.  “I couldn’t be more proud of our team who delivered these impressive results. We are already hard at work on our plans for the next tax season, and I am confident in our ability to build on the momentum from this season,” said Cobb.  “As I prepare to depart on July 31st, the company is well-positioned and on the right path to delivering value for shareholders for years to come.”  Globe Newswire

HRB Technical Analysis

HRB opened trading yesterday at $26.58 which was up from the previous day’s trading close of $26.44. HRB closed trading yesterday at $26.99 and spiked up after market to $29.72, equivalent to a 10% increase from the closing price. Taking a look at the daily chart we can see the last time HRB traded above these levels we have to go back to March 3rd, 2016 when it traded at  $31.42.

Taking a closer look at the daily chart we can see that before the spike up HRB had already been in an overall upward trend dating back to February 24th when it traded at $19.86. HRB has a float of 206.02 million shares and traded 1.55 times the normal daily trading volume on Tuesday.