DISCLAIMER

DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.

Saturday, May 1, 2010

Berkshire rebounds from 2009 $1.5 billion 1Q loss to post a preliminary $3.6 billion profit

Berkshire Hathaway has rebounded from last year’s first-quarter loss and earned $3.6 billion as the economic recovery began and Berkshire absorbed Burlington Northern Santa Fe railroad.

CEO Warren Buffett shared preliminary first-quarter results with shareholders Saturday at Berkshire’s annual meeting. The full report will be released Friday.

Last year’s $1.5 billion loss included a $241 million loss on the sale of investments and a $1.9 billion charge from writing down a ConocoPhillips investment.

The addition of Burlington Northern more than doubled Berkshire’s regulated businesses unit income to $555 million. The unit also includes utilities.

Buffett says Berkshire’s results show the economy is improving because manufacturing and retail income grew 85 percent to $477 million.

Free Book "Make Real Money on the Internet" from world’s #1 internet wealth advocate Stephen Pierce. absolutely free!

Get your copy now!

Posted by at
Labels: , , , , , , , ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)