Berkshire Hathaway: Q1 2014 Revenues Up, Profit Down

While Berkshire Hathaway, Inc. (NYSE:BRKA) says its profit for the first quarter 2014 slipped nearly four percent from last year, at the same time its revenues shot up about the same amount. First quarter earnings hit $4.71 billion this past quarter versus $4.89 billion for the same period last year. Revenue increased from $43.87 billion in Q1 2013 to $45.45 billion for the comparable period 2014, as told to by Berkshire’s manufacturing, retail and service companies, including Clayton Homes, the nation’s largest producer of factory-built homes, generated $933 million in revenue in Q1 2014. Operating earnings, which Chairman Warren Buffett said are a better measure of performance, fell Q1 2013 to 2014, $3.78 billion to $3.53 billion. Berkshire owns approximately 80 companies, of which its insurance and utility businesses account for more than half of its net income. ##

(Photo credit: Nati Harnik/AP Photo–Berkshire’s Chairman Warren Buffett with Clayton Homes employees May 2, 2014, one day prior to annual meeting)

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