Monday, May 9, 2016
Berkshire Hathaway earnings miss expectations by $487 per share
Berkshire Hathaway's first-quarter earnings are out, and it's a miss.
On Friday afternoon, Warren Buffett's conglomerate reported operating earnings of $2,274 per share, missing expectations for earnings of $2,761, according to estimates from Bloomberg.
Revenue for Berkshire's businesses totaled $52.4 billion, up from $48.65 billion in last year's first quarter.
The company also pegged book value per Class A share at $157,369 as of March 31.
Last weekend, the company held its famous annual meeting in Omaha.
On Friday, Class A shares of the company closed just a hair under $217,000.
(Disclosure: I own a few Class B shares, which settled at around $144 on Friday.)