Berkshire Hathaway Earnings Beat Wall Street Expectations

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Berkshire Hathaway Inc. late Friday reported net earnings of $5.16 billion in the first quarter, compared with $4.70 billion a year ago. Net earnings per Class A share rose to $3,143 in the quarter, from $2,862 a year ago. Adjusted for one-time items, the company earned $2,583 per class A share, from $2,149 a year ago. The Omaha, Neb.-based company led by legendary investor Warren Buffett holds dozens of businesses, from specialty chemicals maker Lubrizol to manufactured housing provider Clayton Homes, a large portfolio of securities, and an insurance operation that includes Geico Corp. Analysts polled by FactSet had expected earnings of $3.6 billion in the quarter, or $2,387.79 a class A share. Class A shares were flat in after hours Friday.

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