February 8, 2018 / 12:46 PM / 8 months ago

Tyson Foods' profit nearly triples due to tax benefit

Feb 8 (Reuters) - Tyson Foods Inc’s first-quarter profit nearly tripled due to a $790 million benefit related to the overhaul of U.S. tax laws late last year.

Net income attributable to the No. 1 U.S. meat processor rose to $1.63 billion, or $4.40 per share, in the quarter ended Dec. 30, from $594 million, or $1.59 per share, a year earlier.

The Springdale, Arkansas-based company said its net revenue rose to $10.23 billion from $9.18 billion. (Reporting by Uday Sampath in Bengaluru; Editing by Maju Samuel)

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