Berkshire Hathaway reported a 14% drop in first-quarter operating earnings to $9.64 billion, down from $11.22 billion a year ago. The company cited a sharp decline in insurance-underwriting profits and growing tariff risks. A 48.6% drop in insurance profits, primarily due to $1.1 billion in wildfire losses, contributed to the slump. The company also posted a $713 million foreign exchange loss versus a $597 million gain last year. Berkshire flagged ongoing uncertainty from Trump’s tariffs and geopolitical events but emphasized that quarterly investment swings can mislead investors. Cash reserves rose to a record $347 billion, up from $334 billion at the end of 2024.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Berkshire Hathaway reported a 14% drop in its first quarter operating earnings to $9.64 billion,
00:07down from $11.22 billion a year ago. The company started a sharp decline in insurance underwriting
00:12profits and growing tariff risks. 48.6% drop in insurance profits primarily due to $1.1 billion
00:19wildfire losses contributed to the slump. The company also posted a $713 million foreign exchange
00:25loss versus a $597 million gain last year. Berkshire flagged ongoing uncertainty for Trump's
00:30tariffs and geopolitical events that emphasized that quarterly investment swings could mislead
00:34investors. Cash reserves rose to a record $347 billion, up from $334 billion at the end of 2024.
00:41For all things money, visit Benzinga.com slash GSTV.