From Yahoo Finance: 2024-05-04 14:43:45

Berkshire Hathaway’s first quarter profits dropped to $12.7 billion, or $8.825 per Class A share, from $35.5 billion last year. The company attributes the decline to a drop in the paper value of its investments, but operating earnings jumped 39% to $11.222 billion. Buffett sold $17 billion of stocks, including trimming 13% of Berkshire’s Apple stake, still the biggest in its $364 billion portfolio. Berkshire’s insurers reported a $2.6 billion underwriting profit, while BNSF railroad profits fell 8% to $1.143 billion. Revenue grew 5% to $89.87 billion as the company’s many other businesses delivered solid results.



Read more at Yahoo Finance: Berkshire’s profit plunges 64% on portfolio holdings as Buffett sells Apple