Berkshire Hathaway Reports Soaring Earnings & Cash Reserves; Warren Buffett Trims Apple (AAPL) Stake Yet Again
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- Warren Buffett’s Berkshire Hathaway (BRKB) reports strong Q1 earnings and a significant increase in cash, with further growth expected.
- Operating earnings jumped 39% to $11.222 billion, driven by gains in insurance underwriting and insurance investment income.
- Berkshire’s cash rose to a record $188.99 billion, with Buffett expecting it to reach $200 billion by the end of June.
Berkshire Hathaway’s Q1 earnings exceed expectations, driven by gains in insurance underwriting and investment income. The company’s cash reserves also hit a new record, with further increases anticipated.
Berkshire’s Q1 Earnings
Operating earnings for Berkshire Hathaway surged 39% to $11.222 billion, fueled by significant gains in insurance underwriting and insurance investment income. Revenue rose by 5% to $89.87 billion, exceeding analysts’ expectations of a 2% increase to just over $87 billion. Despite a 64% plunge in total net income, which includes investment gains or losses, the decline was less than the anticipated 72%.
Buybacks and Cash Levels
Berkshire repurchased $2.6 billion worth of its own shares,... Read the full article for FREE at COINOTAG!
