Berkshire Hathaway registered a marked improvement in earnings performance, as the conglomerate raked in net earnings of around $21.7 billion for the first quarter. The earnings include about $15.5 billion in earnings on investments, $608 million on derivatives, and operating earnings of nearly $5.6 billion.
In the year-ago quarter, the company incurred around $1.14 billion loss.
For the first quarter, Berkshire reported net earnings of $13.209 per Class A share and $8.81 per Class B share. In the year-ago period, the company posted a -$692 loss per Class A share and -46-cent loss per Class B share.
The company had repurchased shares of Class A and B common stock for an aggregate amount of approximately $1.7 billion during the quarter.