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Berkshire Hathaway Q1 loss $1.1 billion

Staff Writer |
Berkshire Hathaway reported a 48.7 percent first quarter gain in operating earnings, to $5.3 billion.

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Berkshire Hathaway's insurance underwriting business swung back into the green and railroads, utility and other businesses posted gains.

Because of accounting rule changes that apply to its $170 billion stock portfolio, however, Berkshire Hathaway recorded a first quarter loss of $1.1 billion compared to net income of $4 billion in last year's first quarter.

Berkshire Hathaway marked down the value of those investments nearly $6.3 billion.

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