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Preview Of Earnings Submitted By Berkshire: Catastrophes a Large Factor


Guest ValueCarl
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Guest ValueCarl

http://finance.yahoo.com/news/Berkshire-1Q-profit-drops-on-apf-1866889650.html?x=0&sec=topStories&pos=1&asset=&ccode=

 

 

OMAHA, Neb. (AP) -- Berkshire Hathaway's first-quarter profits are down 58 percent because of an estimated $1.7 billion in pretax insurance losses from the Japanese tsunami and other disasters.

 

Berkshire won't release its full earnings report until next Friday, but CEO Warren Buffett offered a preview at Saturday's annual shareholders meeting.

 

Buffett estimates that Berkshire will report $1.5 billion net income in the quarter. That's down from $3.6 billion the year before. Buffett did not offer earnings per share figures.

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