H&R; Block’s Profit Soars in Third Quarter

H&R; Block Inc., the largest U.S. tax preparer, said fiscal third-quarter earnings more than quadrupled to $132 million as it sold assets related to its mortgage business.

The Kansas City, Mo.-based company earned 73 cents a share, compared with $29.6 million, or 16 cents, in the year-earlier period.

Revenue increased 30.7% to $958.4 million. The company said it expected to earn $3.10 to $3.25 a share in fiscal 2003, an increase of its previous forecast.

H&R; Block shares fell 42 cents to $37.20 on the NYSE.