Berkshire Hathaway Swings To Big Profit
Berkshire Hathaway (NYSE: BRK.B, BRK.A) announced it made $3.6 billion in the first quarter compared to a loss of $1.5 billion in the year ago period. All of the improvement was in the company’s operating earnings which went from $1.7 billion last year to $2.2 billion in the most recent quarter.
The company also had a profit in its investment portfolio and in the part of the financial statement that reflects derivative losses and gains.
The investment and derivative portion of earning was $1.4 billion compared to $3.3 billion last year, during the credit crisis and March 2009 market sell-off
|Berkshire Hathaway Inc.|
Preliminary First Quarter After-Tax Earnings
|Insurance – underwriting||$||226||$||202|
|Insurance – investment income||938||1,004|
|Manufacturing, service & retailing||477||258|
|Investment and derivative gains/losses||1,411||(3,239||)|
Douglas A. McIntyre