February 27, 2018 / 10:03 PM / 8 months ago

Hertz reports quarterly profit due to tax gain

Feb 27 (Reuters) - Hertz Global Holdings Inc reported a quarterly profit on Tuesday compared with a year-ago loss, helped by a one-time gain due to changes in the U.S. tax law.

Net income from continuing operations was $616 million, or $7.42 per share, in the fourth quarter ended Dec. 31, compared with a loss of $438 million, or $5.28 per share, a year earlier, when it took an impairment charge of $253 million.

On an adjusted basis, the Estero, Florida-based company reported a loss of 77 cents per share.

Total revenue rose to $2.09 billion from $2.01 billion. (Reporting by Ankit Ajmera in Bengaluru; Editing by Arun Koyyur)

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