UPDATE 1-Berkshire quarterly profit hurt by weather, insurance
May 02, 2014 at 17:48 PM EDT
OMAHA, Neb., May 2 (Reuters) - Warren Buffett's Berkshire Hathaway Inc on Friday said quarterly profit declined 4 percent, falling short of analyst forecasts, as earnings from insurance underwriting declined and bad weather hurt results at its BNSF Railway unit.