Berkshire Hathaway's operating profit in the first quarter increased by 5%


American investment company Berkshire Hathaway, which is owned by billionaire Warren Buffett, reported that in the first quarter its operating profit amounted to 5.56 billion dollars, an increase of 5% over the year. At the end of the quarter, the company received a net profit of $21.661 billion against a net loss of $1.138 billion a year earlier, helped by significant changes in the value of assets. Revenues amounted to 60.687 billion dollars, an increase over the year by 3.8%. The division uniting the railway, municipal and energy business increased revenues by 2.9%. The insurance division collected premiums totaling $14.319 billion during the earnings period, increasing the figure for the year by 7.1%. The company also reported investment income of $19.522 billion, compared with a loss of $7.809 billion a year earlier. The volume of its assets grew by 4.4% over the quarter, reaching 738.724 billion dollars. The book value of the company since the beginning of the year increased by 6% to 224.95 thousand dollars per class “A” share.

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