Warren Buffett's investment company Berkshire Hathaway generated a profit of $35.5 billion in the first quarter. This reflects the gains of stocks such as Apple, higher other investment income and a rebound at auto insurer Geico, the company said on Saturday. Berkshire also accelerated the buyback of its own shares and acquired shares worth $4.4 billion. At the same time, investments in other companies such as Chevron have been reduced.

Net income rose to $5.58 billion from $35.5 billion in the same period last year. That's more than a fivefold increase. This is also reflected in the 27 percent increase in Apple's share price. Operating profit increased by 13 percent to 8.07 billion dollars.

The 92-year-old Buffett has led Berkshire since 1965 and has transformed the company from a struggling textile company into a conglomerate of dozens of companies, including the BNSF railroad, Berkshire Hathaway Energy, and manufacturing and retail units, including See's Candies and Dairy Queen ice cream.