H&R Block group recorded its 3rd quarter earnings with an inclination of 6.9% after it faced the losses from discontinued operations in the previous year.

According to the group's President and Chief Executive Russ Smyth, they are a bit disappointed in this tax season with their early results, but the group is still loyal towards the commitment to improve its performance at the end of the tax, with an expectation to outperform the competitors irrespective of the external elements like unemployment rates.

After the citations from the industry sources, the group expressed that the returns were on a declining note up to 5% from Feb. 28 from a year earlier. However the decline is expected to become half the number by the time April 15 arrives. As of now, the group is facing a steep rise in its returns with a 6.8% in retail operations and initially is feeling the dip of 9.4%.

The company is preparing itself for the traditional tax-preparation business, and plans to quit the brokerage and loan-origination businesses. It is further in the mood to restructure and reorganize its software to make them more user-friendly.

H&R group recorded a profit of $50.6 million, this quarter end. Earnings from continuing operations sank to 16 cents from 20 cents as revenue felt the dip of 5.9% to $934.9 million.