Operating expenses fell to $540.6 million for the quarter just ended, down 6.3 percent from $576.8 million in last year's corresponding period. Block also reported a $9.7 million reduction in mortgage loan loss provisions.
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H&R Block, which normally loses money outside of tax season, reported a loss of $128.6 million for the second quarter ended October 31 down from $135.9 million a year earlier as it cut operating expenses. The company saw revenue drop to $326.1 million, down 7.2 percent from $351.5 million, on weaker results in its business services segment, the RSM McGladrey business.
Operating expenses fell to $540.6 million for the quarter just ended, down 6.3 percent from $576.8 million in last year's corresponding period. Block also reported a $9.7 million reduction in mortgage loan loss provisions.