(Source: Associated Press, May 1, 2015)
OMAHA, Neb. — Warren Buffett’s company said Friday 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.
Berkshire’s BNSF railroad rebounded from last year’s service problems to generate $1.05 billion in net income, up from $724 million. Last year, BNSF dealt with severe cold weather and a backlog of shipments in several states. The railroad’s fuel costs fell to $713 million from last year’s $1.16 billion.
Full story: Star Tribune