Berkshire Hathaway reports Q1 results

Berkshire Hathaway says it benefited from an improving economy and investment gains related to its acquisition of BNSF railroad in the first quarter as it rebounded from last year’s loss to deliver $3.6 billion in net income. Berkshire said it earned $2,272 per class A share during the quarter.

That’s after last year’s loss of $1.5 billion, or $990 per share, as it wrote down the value of its ConocoPhillips investment. Chairman and CEO Warren Buffett discussed the highlights of Berkshire Hathaway’s quarterly earnings at May 1’s shareholders’ meeting but didn’t release detailed information about the quarter until May 7. The four analysts surveyed by Thomson Reuters expected Berkshire to report earnings per share of $1,101.83 on average.

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