Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2024.
Berkshire Hathaway reported Saturday a huge year-over-year increase in operating earnings in the first quarter, while its cash holdings bubbled to record levels.
The Warren Buffett-led conglomerate posted an operating profit — which encompasses earnings from the company's wholly owned businesses — that surged 39% to $11.22 billion from the year-earlier period.
That gain was led by a 185% year-on-year increase in insurance underwriting earnings to $2.598 billion from just $911 million.
Berkshire's railroad business raked in $1.14 billion in profit, down slightly from the first quarter of 2023.
Persons:
Warren Buffett, Berkshire Hathaway, Buffett
Organizations:
Berkshire
Locations:
Omaha , Nebraska