From Yahoo Finance: 2025-05-03 08:44:00

Berkshire Hathaway, led by Warren Buffett, reported a 14.1% drop in first-quarter operating earnings, with profits from insurance underwriting taking a hit. The company ended the quarter with a record $347.7 billion in cash, but did not repurchase any stock. Investors are curious about how the reserve will be deployed.

The annual shareholders meeting for Berkshire Hathaway drew thousands of visitors to hear Warren Buffett, known as the “Oracle of Omaha,” discuss the company’s first-quarter earnings and the economy. Berkshire’s Class B shares have gained 19% this year, outperforming the S&P 500 despite market volatility. Friday’s gains brought the benchmark index back to pre-“Liberation Day” levels.

Read more: Warren Buffett’s Berkshire Hathaway Operating Earnings Drop, as Cash Pile Hits Record High