Overview
- Berkshire reported first‑quarter results Saturday with operating earnings of $11.35 billion and about $10.1 billion in net income, slightly below the $11.56 billion operating estimate.
- The company ended the quarter holding roughly $397 billion in cash and short‑term Treasuries, including about $58 billion in cash and $339 billion in U.S. T‑bills.
- The conglomerate was a net seller of stocks for the 14th straight quarter, unloading $24 billion of shares against $15.9 billion of purchases.
- Insurance performance was mixed as underwriting profit rose 28% to $1.7 billion while GEICO’s earnings fell 34%.
- At the annual meeting in Omaha, Warren Buffett praised CEO Greg Abel’s execution, reinforcing investor confidence during the leadership transition.