Berkshire operating profit falls short, book value rises

New York

WARREN Buffett's Berkshire Hathaway Inc on Friday confirmed that its first-quarter profit rose 8 per cent, while operating results fell short of analyst forecasts as falling oil prices and coal demand hurt its BNSF railroad unit.

The Omaha, Nebraska-based conglomerate, which has close to 90 operating units, also said its book value per share, measuring assets minus liabilities and Mr Buffett's preferred gauge of growth, rose 1.2 per cent from year end.

Net income rose to US$5.59 billion, or US$3,401 per Class A share, from US$5.16 billion, o…