Billionaire Warren Buffett's Berkshire operating profit falls short, book value up

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

NEW YORK: Billionaire Warren Buffett's Berkshire Hathaway Inc on Friday confirmed that its first-quarter profit rose 8 percent, 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 Buffett's preferred gauge of growth, rose 1.2 percent from year end.