March 20, 2018 / 11:03 AM / a year ago

Investment bank Jefferies swings to quarterly loss on tax charge

March 20 (Reuters) - Investment bank Jefferies Group LLC swung to a quarterly loss, hurt by a $164 million charge related to changes to the U.S. tax code.

Net loss attributable to Jefferies was $60.8 million for the first quarter ended Feb. 28, compared with a profit of $114.0 million a year ago.

Net revenue for the quarter rose 3.2 percent to $821.2 million from last year.

New York-based Jefferies, a unit of Leucadia National Corp , traditionally kicks off the earnings reporting season for investment banks. Its results are viewed as an indicator of big Wall Street banks’ performance. (Reporting by Parikshit Mishra in Bengaluru Editing by Saumyadeb Chakrabarty)

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