Berkshire Hathaway reports 48.7% first quarter operating gain as shareholders prepare to meet

Business


Bennett Raglin | WireImage | Getty Images

Warren Buffett attends ‘Becoming Warren Buffett’ World premiere at The Museum of Modern Art on January 19, 2017 in New York City.

Berkshire Hathaway reported a 48.7 percent first quarter gain in operating earnings, to $5.3 billion, as its insurance underwriting business swung back into the green and railroads, utility and other businesses posted gains.

Because of accounting rule changes that apply to its $170 billion stock portfolio, however, the conglomerate recorded a first quarter loss of $1.1 billion compared to net income of $4 billion in last year’s first quarter.

Berkshire marked down the value of those investments nearly $6.3 billion.



Source link

Products You May Like

Articles You May Like

Andy Cohen on the making of a ‘Housewives’ brand
Here’s why some retirees no longer have to file a tax return
Snap shares plunge after analyst says users are less engaged
GE should suspend dividend for the next 18 months
Buy beaten-down Citi shares ahead of stress test results and earnings, Deutsche Bank says

Leave a Reply

Your email address will not be published. Required fields are marked *