UPDATE: H&R Block FQ4 Profit Beats Estimates, Shares Rise

H&R Block HRB reported a 35% surge in its fiscal fourth-quarter profit. H&R Block's quarterly net income rose to $909.9 million, or $3.29 per share, versus a year-ago profit of $644.3 million or $2.42 per share. Its earnings from continuing operations came in at $3.36 per share. Its revenue increased 16% to $2.56 billion. However, analysts were expecting a profit of $3.23 per share on revenue of $2.49 billion. The company's press release offered the following comment from Bill Cobb, H&R Block's president and chief executive officer: "We delivered a strong year of both revenue and earnings growth and lived up to our long-standing tradition of being the world's leading tax services provider." H&R Block shares gained 4.13% to $32.00 in pre-market trading.