Berkshire posts $21.66 bn profit in Q1; Buffett laments Kraft Heinz

Operating profit, which Buffett considers a better performance measure, rose 5 per cent to $5.56 bn, or about $3,388 per Class A share, from $5.29 bn, or $3,215 per share, a year earlier

Warren Buffett's Berkshire Hathaway Inc on Saturday said gains in its stock investments fueled a big first-quarter profit, while improved results from its Geico auto insurer and BNSF railroad units boosted operating results.

Berkshire also said it repurchased $1.7 billion of its stock in the quarter, reflecting Buffett's troubles to find better uses for the Omaha, Nebraska-based conglomerate's cash hoard, which now totals $114.2 billion.

Results were released as Buffett, 88, and Vice Chairman Charlie Munger, 95, prepared to answer more than five hours of questions from shareholders and analysts at Berkshire's annual meeting in Omaha, Nebraska, which draws tens of thousands