Warren Buffett's Berkshire Hathaway Inc on Saturday said gains in its stock...
OMAHA, Neb. - Warren Buffett’s Berkshire Hathaway Inc on Saturday said gains in its stock investments fueled a big first-quarter profit, while improved results from its Geico auto insurer and BNSF railroad units boosted operating results.
Results were released as Buffett, 88, and Vice Chairman Charlie Munger, 95, prepared to answer more than five hours of questions from shareholders and analysts at Berkshire’s annual meeting in Omaha, Nebraska, which draws tens of thousands of people. Operating profit, which Buffett considers a better performance measure, rose 5 percent to $5.56 billion, or about $3,388 per Class A share, from $5.29 billion, or $3,215 per share, a year earlier.
Buffett also maintained that “we paid too much” for Kraft Heinz, which was created in a 2015 merger between Kraft Foods and H.J. Heinz, which Berkshire and Brazil’s 3G Capital controlled.Geico saw pre-tax underwriting profit rise 14 percent as rising rates and premiums offset higher accident claims.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Warren Buffett explains why he thinks going to college isn't for everybodyBerkshire Hathaway CEO Warren Buffet, the third richest person in the world, said in a new interview that college and business school aren’t necessary for professional success.
Read more »
Warren Buffett on making mistakes: 'That makes it interesting''If you played golf and you hit a hole in one on every hole, nobody would play golf, it's no fun,' Berkshire Hathaway chairman Warren Buffet told the Financial Times.
Read more »
Buffett's Berkshire swings to big profit as stocks gainWarren Buffett's Berkshire Hathaway Inc on Saturday swung to a big quarterl...
Read more »
Warren Buffett says auditor hasn't approved Kraft Heinz's financials: 'There's something going on'Warren Buffett said Kraft Heinz is in dispute with its auditor, so Berkshire Hathaway hasn't gotten the food company's financials.
Read more »
Warren Buffett heads into Berkshire's big weekend with stock underperforming over long termBerkshire Hathaway investors eager for better performance are expected to question Warren Buffett at the annual meeting on May 4.
Read more »
When Warren Buffett Takes the Stage, Try Your Hand at Berkshire BingoOptimism about America. Criticism of hedge funds. Disparagement of vegetables. Play along as the Berkshire Hathaway chairman hits on his favorite topics at his company’s annual meeting.
Read more »
Buffett's Berkshire Hathaway to invest $10 billion in Occidental Petroleum for Anadarko takeoverWarren Buffett is getting involved in a rare bidding war unfolding in the energy industry.
Read more »
Factbox: Warren Buffett, Berkshire Hathaway at a glanceWarren Buffett will host tens of thousands of people in Omaha, Nebraska from May...
Read more »
Warren Buffett says Berkshire's purchase of high-flying Amazon was still 'value investing'Berkshire Hathaway's Amazon bet seems to stray from Warren Buffett's value investing style, but the Oracle of Omaha said the e-commence giant is exactly a value company.
Read more »
Buffett's Berkshire to invest $10 billion in Occidental for Anadarko buyWarren Buffett's Berkshire Hathaway to invest $10 billion in Occidental for Anadarko buy
Read more »