(Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) (BRKb.N) on Friday confirmed that its first-quarter profit rose 8 percent, while operating results fell short of analyst forecasts after demand fell at its BNSF railroad unit.
The conglomerate nonetheless said its book value per share, measuring assets minus liabilities and Buffett’s preferred gauge of growth, rose 1.2 percent from year end.
Net income for Berkshire rose to $ 5.59 billion (4 billion pounds), or $ 3,401 per Class A share, from $ 5.16 billion, or $ 3,143 per share.
Operating profit fell 12 percent to $ 3.74 billion, or $ 2,274 per Class A share, from $ 4.24 billion, or $ 2,583 per share.
(Reporting by Jonathan Stempel in New York; Editing by Matthew Lewis)
