H&R Block was the worst performer in the S&P 500 Wednesday after it reported weaker-than-expected results for its latest quarter due to fewer customers in the U.S. and a negative currency impact.
The company reported an adjusted loss of 55 cents per share, two cents wider than anticipated. Revenue also fell below forecasts to $125 million versus the $133 million estimate.
The stock was down 12 percent on heavy volume of nearly 6 million shares by late-morning. The stock later recovered some of its losses, but still ended the day down 10.5 percent.
