Berkshire Hathaway's earnings jump 51 percent

[Omaha Steve]

Source: AP-Excite

By JOSH FUNK

OMAHA, Neb. (AP) - Berkshire Hathaway's first-quarter profit jumped 51 percent as its insurance companies performed well and the value of its investments soared.

Warren Buffett's firm said Friday it earned $4.89 billion, or $2,977 per Class A share. That's up from last year's $3.25 billion net income, or $1,966 per Class A share.

The Omaha-based conglomerate said its revenue grew 15 percent to $43.87 billion over last year's $38.15 billion. The earnings report was released as thousands of Berkshire shareholders were gathering in Omaha for Saturday's annual meeting.

Berkshire officials don't generally comment on quarterly earnings reports, and no one responded to a message Friday about the first-quarter results. But Buffett will likely discuss the earnings report briefly at Saturday's annual meeting.

FULL story at link.


Read more: http://apnews.excite.com/article/20130503/DA624FB82.html

---

In this Tuesday, June 5, 2012 file photo, Warren Buffett, chairman and CEO, Berkshire Hathaway, Inc., speaks during the Economic Club of Washington's 25th anniversary celebration dinner in Washington. Berkshire Hathaway's first-quarter profit jumped 51 percent as its insurance companies performed well and the value of its investments soared, Buffett's firm said Friday, May 3, 2013. (AP Photo/Cliff Owen, File)

[GeorgeGist]

1. Yeah, greed!

[DFW]

2. About 15 years ago, a friend told me those shares were a "steal" at $33,000 a share

I thought he was completely deranged. How could ANY stock share be worth $33,000?

I guess now I know. He takes no delight these days in reminding me, anyway. At the time, he borrowed, begged, put up his belongings to buy up something like 50 shares. At least he's doing something useful with his earnings--he set up a charitable foundation promoting education, which is something our state of Texas usually does NOT do.

[melm00se]

3. Buffett

doesn't believe in splitting shares so Berkshire Hathaway has never done it.

I used to work for a bank that BH held a large interest, the shares went to $400 each (IIRC).

As soon as BH divested of this bank, the board of directors immediately did a 10:1 split. My ESPP holdings went for 30 shares to 300 overnight.

[BumRushDaShow]

4. Correct vs what M$ did

many times over the past 25+ years, which is why M$ closed around $33.50 per share Friday rather than be worth ~ $12,000/share without the splits.

http://www.investopedia.com/articles/stocks/08/stock-prices-fool.asp

And then there's companies like Citigroup and the reverse-split just to try to get those prices up from $4 per share to the current ~$46 per share (1:10).

[lastlib]

5. Had to have been more than 15 years ago.....

BRK.A current price is $162,904/sh. In 1998, it was at $52,000/sh.

[DFW]

6. I'm sure you're right

Not exactly being a stock mogul, I didn't record when it was. I've never been in a situation where I could buy 50 shares of BRK-A anyway.