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Warren Buffett's company announced a $ 23-billion increase in its first-quarter results due to a sharp change in the paper value of its investments.
Berkshire Hathaway announced Saturday it has earned $ 21.6 billion, or $ 13,209 per Class A share, in the first quarter. This is up from $ 1.14 billion last year, or $ 692 per share.
Berkshire said the figures do not include any contribution from him to more than a quarter of Kraft Heinz, who has struggled recently and has not yet filed his own forms with the SEC.
Buffett has long claimed that Berkshire's operating profit provides a better view of quarterly performance as it excludes investments and derivatives, which can vary widely.
According to this measure, Berkshire reported an operating profit of $ 5.56 billion, or $ 3,387.56 per Class A share. This represents an increase of $ 5.29 billion, or 3,214. $ 67 per share.
Analysts surveyed by FactSet were expecting operating earnings of $ 3,461.43 per Class A share.
Ray Renk of San Francisco, California, holds his 8-year-old daughter Kennedy alongside her 10-year-old son Benjamin while wearing custom costumes and watching Warren Buffett, Berkshire President and CEO. Hathaway, parade at convention during Berkshire Hathaway Annual Meeting of Shareholders at CHI Omaha Health Center in Omaha, Nebraska, Saturday, May 4, 2019.
Andy Serwer, vice president and editor-in-chief of Yahoo Finance, stands in a trash to get a better perspective on Warren Buffett, CEO of Berkshire Hathaway, who hosted the convention at Berkshire Hathaway's annual shareholders' meeting at CHI Health Center Omaha in Omaha, Nebraska, Saturday, May 4, 2019.
Ray Renk of San Francisco, California, holds his 8-year-old daughter Kennedy alongside her 10-year-old son Benjamin while wearing custom costumes and watching Warren Buffett, Berkshire President and CEO. Hathaway, parade at convention during Berkshire Hathaway Annual Meeting of Shareholders at CHI Omaha Health Center in Omaha, Nebraska, Saturday, May 4, 2019.
On their smartphone, an image of Warren Buffett displayed in the Bookworm booth is visible on the left, Bok Ai Ong of Singapore, Jan Moore of Calgary Alberta Canada and Jack Johnston of Dayton, Ohio, on the day of purchase Berkshire Hathaway shareholders in the exhibition. Hall of the CHI Health Center in Omaha Friday.
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