FX.co ★ Berkshire Hathaway Q1 Net Profit Declines

Berkshire Hathaway Inc., owned by billionaire Warren Buffett, has reported a decline in its net earnings for shareholders for the first quarter, dipping to $12.7 billion or $8,825 per Class A share from the $35.5 billion or $24,377 per Class A share of last year's same quarter.

The company's earnings before income taxes also dropped to $15.71 billion from the $44.75 billion of the previous year. However, there was an increase in operating profit, rising to $11.22 billion from the $8.07 billion recorded a year earlier.

Further to these trends, total revenues saw growth, rising to $89.87 billion from last year's $85.39 billion.