Berkshire Hathaway Inc said its first quarter profit fell 64 percent driven primarily from a steep decline in its insurance-underwriting businesses.
Net income fell was $940 million, or $607 a share, compared with $2.6 billion, or $1,682, a year earlier.
Operating profit was down 13 percent to $1.93 billion, or $1,247 per share, compared with $2.21 billion, or $1,434.
The operating results missed analysts' expectations of 1,476.99 per share, according to Thomson Financial.
Revenue fell 21 percent to $22.3 billion.