Berkshire Hathaway's first-quarter profit up 10 percent
OMAHA, Neb. (AP) — Warren Buffett's company says its first-quarter profit jumped 10 percent on the strength of its railroad and insurance businesses.
Berkshire Hathaway Inc. earned $5.16 billion, or $3,143 per Class A share, during the first three months of 2015. That's up from $4.71 billion, or $2,862 per Class A share, last year.
Most major Berkshire subsidiaries performed well. Revenue grew 7 percent to $48.6 billion.
Berkshire's BNSF railroad rebounded from last year's service problems to generate $1.045 billion net income, up from $724 million. Last year, BNSF dealt with severe cold weather and a backlog of shipments in several states.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BRK.A at http://www.zacks.com/ap/BRK.A