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Earnings Rise for Berkshire Hathaway's Service & Retail Division

May 2, 2011 7:14 AM   By Jeff Miller
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RAPAPORT... Berkshire Hathaway estimated a 17 percent year on year increase in net earnings from its manufacturing, service and retailing division, which includes the company's jewelry brands. After-tax earnings in first quarter that ended March 31, where expected to be $558 million compared with $477 million one year ago.

Total net earnings from Berkshire Hathaway for first quarter were estimated at $1.5 billion, which was down from $3.6 billion in large part due to  insurance underwriting claims. The company's insurance business incurred losses of $195 million from Australia's floods, $412 million from the earthquake in Christchurch, New Zealand, and more than $1 billion in losses from underwriting in Japan due to that country's earthquake and tsunami in March.

Tags: berkshire, earnings, hathaway, Jeff Miller, jewelers
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