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

Why women will fall short in retirement, even if they wait until 67
FedEx earnings could save this lagging sector
Cowen lowers Tesla price target to $180. Model 3 deliveries could be weak
5G isn’t even here yet, but a few ETFs based on the tech are soaring
These people won’t have their taxes ready by April 15

Leave a Reply

Your email address will not be published.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