Overview
- Berkshire reported Saturday that operating earnings rose about 18% to $11.35 billion and net income more than doubled to roughly $10.1 billion.
- The cash and Treasury-bill balance reached $397.4 billion as the company sold $8.1 billion more stock than it bought, marking a 14th straight quarter as a net seller.
- The board restarted share repurchases at a modest scale with about $234 million bought back in the quarter, the first buybacks since May 2024.
- Insurance underwriting profit rose to about $1.7 billion, helped by fewer large losses, while Geico’s earnings fell by roughly a third.
- The results released Saturday marked Greg Abel’s first quarter as CEO, and Warren Buffett publicly endorsed his leadership at the annual meeting as the stock lags the S&P 500 this year.