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Warren Buffett attends ‘Becoming Warren Buffett’ World premiere at The Museum of Modern Art on January 19, 2017 in fresh York City.
Berkshire Hathaway reported a 48.7 percent first quarter gain in operating earnings, to $5.3 billion, as its insurance underwriting business swung back into the green along with railroads, utility along with additional businesses posted gains.
Because of accounting rule improvements which apply to its $170 billion stock portfolio, however, the conglomerate recorded a first quarter loss of $1.1 billion compared to net income of $4 billion in last year’s first quarter.
Berkshire marked down the value of those investments nearly $6.3 billion.