DOUBLING DOWN: Berkshire Hathaway Inc. said Friday that its first-quarter net income more than doubled to $3.2 billion, or $1,966 per Class A share. That's up from last year's $1.5 billion, or $917 per Class A share. The 2011 results were weighed down by $1.1 billion in insurance losses from disasters in Japan, Australia and New Zealand.
PROFITABLE PROBLEM: The results for Warren Buffett's company fell short of what the four analysts surveyed by FactSet expected. They had forecast Berkshire would report earnings per Class A share of $2,297.50.
SHAREHOLDER SCRUTINY: More than 30,000 people are expected to attend Berkshire's annual shareholder meeting in Omaha on Saturday. Buffett and Vice Chairman Charlie Munger will spend hours answering questions from shareholders, reporters and analysts.