Berkshire Hathaway Profit Surges as Economy Gives Buffett a Boost

Shareholders walk through the exhibit hall at the Berkshire Hathaway Inc annual meeting, the largest in corporate America, in its hometown of Omaha, Nebraska, U.S., on May 4, 2018. REUTERS/Rick Wilking

Berkshire Hathaway Inc, the conglomerate run by billionaire Warren Buffett, on Saturday said quarterly operating profit rose 67 percent, as insurance underwriting rebounded and several business units benefited from a growing economy.

Results easily topped analyst forecasts. Underwriting profit at the Geico auto insurance unit more than quintupled, the BNSF railroad benefited from demand to ship consumer products, grain, petroleum and steel, and the Berkshire Hathaway Automotive car dealership financed more vehicle purchases.