Berkshire Hathaway’s operating profit fell 14% in the first quarter to $9.6 billion on reduced insurance underwriting profits and currency losses related to the company’s non-dollar debt.
The company didn’t repurchase any stock in the period–and hasn’t bought back any stock now since May 2024. The lack of stock buybacks wasn’t a surprise since Berkshire already disclosed that it hadn’t bought back stock through early March.
Cash levels continued to build in the period, rising to about $348 billion from $334 billion at the end of 2024.
www.barrons.com
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