Warren Buffett’s Berkshire Hathaway Inc. announced the fiscal year 2012 first quarter earnings on late Friday. As the company’s insurance underwriting business reported a profit in the first quarter of fiscal year 2012 from a loss in the same period last fiscal year, the company recognized a net profit of $3.25 billion, more than twice $15.1billion in the same period of last fiscal year.
The data show that Berkshire – Hathaway realized 2012 fiscal first quarter earnings per share (A share) of $1,966 versus $917 in the same period last fiscal year. Excluding the impacts of net investment gains and losses, the company’s fiscal year 2012 first-quarter operating profit reached $2.67 billion, or earnings per share of $1,615 versus operating profit of $1.59, or $966 per share in the same period of last year. Analysts polled by FactSet on average had expected the company would recognise an operating profit of $ 1780 per share in the first-quarter.
Berkshire – Hathaway realized the insurance underwriting profit of $54 million for the fiscal 2012 first-quarter versus a loss of $812 million a year ago, due to the impacts of Japan, New Zealand earthquakes and floods in Australia as well as the hurricanes. The company’s fiscal year 2012 first-quarter revenues reached $38.15 billion, higher than the $33.72 billion in the same period of last fiscal year.