Buffett's Berkshire sees profits fall

Earnings at the holding company hurt by losing bet that the dollar would fall.

May 6, 2005: 6:55 PM EDT

NEW YORK (Reuters) - Berkshire Hathaway Inc., the holding company run by billionaire Warren Buffett, said Friday first-quarter profit fell, hurt by a losing bet that the U.S. dollar would fall.

Net income for the Omaha, Nebraska-based company fell to $1.36 billion, or $886 per Class A share, from $1.55 billion, or $1,008 per share, a year earlier. Revenue rose 3 percent to $17.63 billion. The per-share figures are high because Berkshire (Research) has few shares outstanding.