(MENAFN) Warren Buffett's company said its profits surged 10 percent in the January-March period, driven by the strength of its railroad and insurance businesses, Arab News reported.
Berkshire Hathaway Inc. earned USD5.16 billion during the first three months of 2015, marking an increase from the USD4.71 billion registered last year, the company said.
Meanwhile, revenue grew 7 percent to USD48.6 billion. Berkshire's BNSF railroad rebounded from last years' service problems to generate USD1.05 billion in net income, up from USD724 million.
Last year, BNSF dealt with severe cold weather and a backlog of shipments in several states. The railroad's fuel costs fell to USD713 million from last year's USD1.16 billion.
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