Berkshire Hathaway's First Quarter Earnings Report
Berkshire Hathaway reported a significant increase in operating earnings in the first quarter, with its cash holdings reaching a record high. The conglomerate posted an operating profit surge of 39% to $11.22 billion, led by gains in insurance underwriting and investment income. The company's cash hoard hit $188.99 billion, reflecting Buffett's challenge in finding major acquisition targets.
Key Points
- Operating profit surged 39% to $11.22 billion
- Cash holdings reached a record high of $188.99 billion
- Insurance underwriting earnings increased by 185%
Pros
- Significant increase in operating earnings
- Record high cash holdings
- Strong performance in insurance and railroad businesses
Cons
- 64% drop in first-quarter net earnings due to fluctuations in stock investments