Warren Buffett’s investing conglomerate Berkshire Hathaway has posted a drop in earnings during the first quarter of 2014, we learned about 10 days ago when the information was first released.
The company net earnings were $4.71 billion during the first quarter, and when compared to the first quarter of 2013 this is down 3.8%.
The company revenue came in at $45.5 billion, and this is up from the same period last year by 3.6%. They fell short of analyst estimates that expected $47.1 billion in revenue, according to Thomson Reuters data.
Wall Street pays close attention to quarterly earnings reports from Berkshire Hathaway since they are invested in many well-known companies that have an effect on consumer’s lives. Some of Berkshire Hathaway’s main stock holdings are Walmart, Exxon Mobil, American Express, IBM, Wells Fargo and Coca-Cola.
Not only that, but the company also has dozens of operating units that offer a wide variety of services and products, from selling candy to automobile insurance.
The Berkshire Hathaway earnings results came out right before the annual shareholders meeting, which kicked off on Saturday, May 3 at the Omaha Nebraska headquarters.