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SECURITIES | NATION/WORLD

Berkshire's Earnings More Than Double

March 07, 1997|Times Staff and Wire Reports

Berkshire Hathaway Inc., the Omaha-based investment group headed by billionaire Warren Buffett, reported 1996 earnings that more than doubled its 1995 results. Berkshire, which holds all of Geico Insurance as well as stakes in many major corporations, had 1996 earnings of $2.49 billion, or $2,065 a share. A year earlier, Berkshire earned $794 million, or $670 a share. Berkshire's Class A stock is currently the most expensive issue trading on Wall Street. It rose $100 to close at $36,400, while Class B shares, which started trading last May at about $1,160 a share, gained $4 at $1,214. Both trade on the NYSE.

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