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Berkshire Hathaway's 1Q Revenue +13%, Profit Doubles

Company Net Earnings Top $3B

May 4, 2012 7:28 PM   By Jeff Miller
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RAPAPORT... Berkshire Hathaway, which owns Ben Bridge Jeweler, Borsheims Fine Jewelry, Helzberg Diamonds and the Richline Group among many other diverse product and services brands, reported net earnings for the first fiscal-quarter ending on March 31 of $3.25 billion up from $1.5 billion one year ago. Net earnings attributable to Berkshire Hathaway's shareholders rose 114 percent year on year to $1,966 per share.

Total company revenue rose 13 percent year on year to $38.15 billion, while cost of sales rose only by 5.4 percent to $33.2 billion.

Berkshire’s retail division, which includes Borsheims, Helzberg and Ben Bridge jewelry ‎companies, four home furnishing businesses and See’s Candies, saw revenue increase 8 ‎percent during the quarter, while pre-tax earnings rose 58 percent. Berkshire Hathaway did ‎not provide total figures for the retail division.

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