February 2, 2018 / 1:23 PM / 9 months ago

Charter Communications profit surges on $9.3 billion tax reform benefit

(Reuters) - U.S. cable operator Charter Communications Inc (CHTR.O) said on Friday its quarterly profit surged due to a $9.3 billion benefit related to the recent changes in U.S. corporate tax laws.

A Charter Communications company service van is pictured in Pasadena, California U.S., January 26, 2017. REUTERS/Mario Anzuoni

Charter’s net income rose to $9.55 billion, or $34.56 per share, in the fourth quarter ended Dec. 31, from $454 million, or $1.67 per share, a year earlier.

Total revenue rose 3.2 percent to $10.60 billion, helped by strong growth in its residential services business that includes video, internet and voice services.

Reporting by Laharee Chatterjee in Bengaluru; Editing by Savio D'Souza

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