Warren Buffett's Berkshire Hathaway conglomerate reports 4 per cent decline in 1Q profit
OMAHA, Neb. - Warren Buffett's company says its first-quarter profit slipped nearly 4 per cent largely because of an accounting charge in its insurance units.
Berkshire Hathaway Inc. earned $4.71 billion, or $2,862 per Class A share, during the first three months of 2014. That's down from $4.89 billion, or $2,977 per Class A share, a year earlier.
Berkshire's revenue increased nearly 4 per cent to $45.45 billion from $43.87 billion in the same period last year.
Berkshire says its insurance underwriting profits fell to $461 million from $901 million a year earlier because of a deferred charge related to some retroactive insurance policies.
More than 30,000 people are expected to attend Berkshire's shareholders meeting in Omaha, Nebraska, on Saturday.
Read more Business News
- Coquihalla opensKamloops
- Fire destroys houseVernon / N. Okanagan
- Quad crash hospitalizes oneKelowna
- Teachers: 40 years of battlesBC
|QHR Technologies Inc||1.19||0.00|
|Anavex Life Sciences||0.25||+0.01|
|Copper Mountain Mining||2.93||+0.02|
|Sunrise Resources Ltd||0.025||0.00|
|Mission Ready Services||0.245||-0.005|
Apple has taught many entrepreneurs the importance of design, how to create buzz when introducing new products to the marketplace, how to pioneer new technology and the importance of superior quality....
Move over “big guys” there’s a new brokerage in town featuring local expertise, long standing experience and a fresh boutique approach. Kelowna, August 31 2014 – You may have...
There are several things to consider when deciding how much home to buy. 1. Draw up a budget including the new mortgage payments. While the rules used by most lenders require that the mortgage paym...