OMAHA, Nebraska (Reuters) - Warren Buffett's Berkshire Hathaway Inc on Saturday said its first-quarter profit totaled $35.5 billion, reflecting gains from common stocks such as Apple Inc, while higher income from investments bolstered operating profit.
Net income equaled $24,377 per Class A share, and swelled from $5.58 billion, or $3,784 per share, a year earlier.
Quarterly operating profit increased 13% to $8.07 billion, or about $5,561 per Class A share, from $7.16 billion.
The Omaha, Nebraska-based company said it also repurchased $4.4 billion of its own stock in the quarter.
(Reporting by Jonathan Stempel in Omaha, Nebraska; Editing by Alexander Smith)
Price
|
Change
|
5d. change
|
Capi.
| ||
|---|---|---|---|---|---|
| 189.8 USD | -0.01% | +3.70% | 2,932B | ||
| 629,375 USD | +0.68% | +1.19% | 901B | ||
Warren Edward Buffett is an American businessperson who has been at the head of 6 different companies. Presently, Mr. Buffett occupies the position of Chairman & Chief Executive Officer of Berkshire Hathaway, Inc. and Chairman & Chief Executive Officer for Berkshire Hathaway Life Insurance Company of Nebraska, Chairman & Chief Executive Officer for General Reinsurance AG, Chairman & Chief Executive Officer for Berkshire Hathaway Assurance Corp., Chief Executive Officer at Berkshire Hathaway, Inc. (Investment Management) and Manager of Burlington Northern Santa Fe LLC (which are all subsidiaries of Berkshire Hathaway, Inc.). Mr. Buffett is also Trustee at Bill & Melinda Gates Foundation Trust, Principal at West End Capital Management (Bermuda) Ltd. and Member of American Academy of Arts & Sciences and on the board of 5 other companies. Mr. Buffett previously was Chairman of Justin Brands, Inc. Mr. Buffett received an undergraduate degree from the University of Nebraska and a graduate degree from The Trustees of Columbia University in The City of New York.
View full profile| Linked companies | |
|---|---|
Berkshire Hathaway, Inc. (Investment Management)
 Berkshire Hathaway, Inc. (Investment Management) Investment ManagersFinance Berkshire Hathaway, Inc. (Investment Management) (BHI-IM) is the asset management division of Berkshire Hathaway, Inc. (NYSE: BRK), an American multi-national conglomerate headquartered in Omaha, Nebraska. The firm was founded in 1955 and traces its roots to Valley Falls Company, a textile manufacturing company that was formed in 1839. In 1962, Warren Buffett started to acquire shares of the company until he had majority ownership of it. Berkshire Hathaway engages in insurance businesses conducted on both a primary basis and a reinsurance basis. | Chief Executive Officer |
| BERKSHIRE HATHAWAY INC. | Chief Executive Officer |
