Reported about 20 hours ago
Warren Buffett's Berkshire Hathaway reported a 14.1% decline in first-quarter operating earnings year-over-year, amounting to $9.64 billion, attributed mainly to lower profits in its insurance underwriting business. Despite this drop, the company saw its cash reserves rise to a record $347.7 billion, leading investors to speculate on future deployment strategies for this growing cash pile, especially as Berkshire did not buy back any shares during the period. The company's Class B shares have increased by 19% this year, contrasting with the S&P 500's slight losses.
Source: YAHOO