February 27, 2018 / 9:27 PM / 4 months ago

Altice USA reports quarterly profit due to tax gains

Feb 27 (Reuters) - U.S. cable operator Altice USA Inc reported a quarterly profit compared with a year-ago loss, benefiting from a $2.42 billion gain due to changes in the U.S. tax law.

Net income attributable to the company was $2.25 billion, or $3.06 per share, in the quarter ended Dec. 31, compared with a loss of $236.7 million, or 36 cents per share, a year earlier. Revenue for the company, which is in the process of being separated from telecoms and cable group Altice NV, rose 2.6 percent to $2.37 billion. (Reporting by Muvija M in Bengaluru; Editing by Arun Koyyur)

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