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BERKSHIRE HATHAWAY INC . NEWS RELEASE FOR IMMEDIATE RELEASE Omaha , NE ( BRK.A ; BRK.B ) - May 1 , 2021 Berkshire's operating results for the first quarters of 2021 and 2020 are summarized in the following paragraphs . However , we urge investors and reporters to read our 10 - Q , which has been posted at www.berkshirehathaway.com . The limited information that follows in this press release is not adequate for making an informed investment judgment . Earnings of Berkshire Hathaway Inc. and its consolidated subsidiaries for the first quarters of 2021 and 2020 are summarized below . Earnings are stated on an after - tax basis . ( Dollar amounts are in millions , except for per share amounts ) . First Quarter 2021 2020 Net earnings ( loss ) attributable to Berkshire shareholders Net earnings ( loss ) includes : Investment and derivative gains ( losses ) Operating earnings .. $ 11,711 $ ( 49,746 ) 4,693 7,018 ( 55,617 ) 5,871 Net earnings ( loss ) attributable to Berkshire shareholders 11,711 $ ( 49,746 ) Net earnings ( loss ) per average equivalent Class A Share .. Net earnings ( loss ) per average equivalent Class B Share . $ 7,638 $ ( 30,653 ) $ 5.09 $ ( 20.44 ) 1,622,889 Average equivalent Class A shares outstanding Average equivalent Class B shares outstanding . 1,533,284 2,299,925,502 2,434,333,367 Generally Accepted Accounting Principles ( “ GAAP ” ) require that we include the changes in unrealized gains / losses of our equity security investments as a component of investment gains / losses in our earnings statements . In the table above , investment gains ( losses ) include gains of approximately $ 2.8 billion in the first quarter of 2021 and losses of approximately $ 54.5 billion in the first quarter of 2020 due to changes during the first quarters of 2021 and 2020 in the amount of unrealized gains that existed in our equity security investment holdings . Investment gains ( losses ) also include after - tax realized gains on sales of investments of approximately $ 1,414 million and $ 965 million in the first quarters of 2021 and 2020 , respectively . The amount of investment gains ( losses ) in any given quarter is usually meaningless and delivers figures for net earnings per share that can be extremely misleading to investors who have little or no knowledge of accounting rules .