Reported 4 months ago
Warren Buffett's Berkshire Hathaway reported a 14% decline in first-quarter operating profits, selling a net $1.5 billion in stocks and raising its cash reserves to a record $348 billion. The company's insurance division saw significant profit declines, leading to lower overall earnings. Despite the stock sales, Berkshire's shares have surged 20% this year, as investors continue to seek refuge in the conglomerate amid market volatility.
Source: YAHOO