OMAHA, Neb. (AP) — Berkshire Hathaway's first-quarter profit jumped 51 percent as its insurance companies performed well and the value of its investments soared.
Warren Buffett's firm said Friday it earned $4.89 billion, or $2,977 per Class A share. That's up from last year's $3.25 billion net income, or $1,966 per Class A share.
The Omaha-based conglomerate says its revenue grew 15 percent to $43.87 billion from $38.15 billion last year.
Berkshire's insurance companies generated $901 million in underwriting profit because there were no major losses in the quarter. That's far better than last year's $54 million.
The value of Berkshire's investments and derivatives soared to $1.1 billion from $580 million.
The earnings report was released as thousands of Berkshire shareholders were gathering in Omaha for Saturday's annual meeting.
Mack Brown's attorney and the university's new athletics director say the Texas coach has not resigned, denying a report that Brown was ready to step down after 16 seasons with the Longhorns.
A large majority of the crowd that poured into Austin City Hall on Tuesday night was disappointed with the Parks and Recreation Department's decision to approve a smaller off leash area at Auditorium Shores.
The top prosecutor in Travis County found herself on the witness stand Tuesday to answer questions about her professional and personal history along with her history of alcohol.
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An historic early December cold spell is slowly waning, but temperatures will remain well below average for a couple more days.