OMAHA, Neb., May 1 (Reuters) - Warren Buffett’s Berkshire Hathaway Inc on Friday said first-quarter profit rose 10 percent, helped by improved results in its BNSF railroad unit, as well as by gains from derivatives.
Net income rose to $5.16 billion, or $3,143 per share, from $4.71 billion, or $2,862.
Quarterly operating profit increased 20 percent to $4.24 billion, or $2,583 per share, from $3.53 billion, or $2,149.
Book value per share, Buffett’s preferred measure of growth, rose 0.5 percent from year-end to $146,963.
Results were released one day before Berkshire’s annual meeting in Omaha, where shareholders are expected to celebrate Buffett’s 50th anniversary at Berkshire’s helm.
Reporting by Luciana Lopez and Jonathan Stempel in Omaha, Nebraska; Editing by Bernard Orr