Investing.com -- Berkshire Hathaway (NYSE:BRKb) reported a 14% drop in first-quarter operating earnings to $9.64 billion, down from $11.22 billion a year earlier, as insurance underwriting income declined sharply.Insurance underwriting operating income fell 49% year-over-year to $1.34 billion, while insurance investment income rose 11% to $2.89 billion.BNSF Railway posted operating income of $1. ...
By Jonathan Stempel and Carolina Mandl OMAHA, Nebraska/NEW YORK (Reuters) -Warren Buffett’s Berkshire Hathaway (NYSE:BRKa) on Saturday posted a lower operating profit in the first quarter, dented by insurance losses from wildfires and foreign currency changes, while its cash stake grew to a record $347.7 billion. Operating profit for the Omaha, Nebraska-based conglomerate dropped 14% to $9.64 bi ...
By Jonathan Stempel (Reuters) - Berkshire Hathaway (NYSE:BRKa)’s Geico car insurance unit has made progress in upgrading its technology to better match rates with risk, Berkshire Vice Chairman Ajit Jain said on Saturday. Jain, who has day-to-day oversight of Berkshire’s insurance operations, spoke at the conglomerate’s annual meeting in Omaha, Nebraska where he, Chairman Warren Buffett and V ...
By Jonathan Stempel OMAHA, Nebraska (Reuters) -Warren Buffett on Saturday gave a full-throated endorsement to the five Japanese trading houses in which his conglomerate Berkshire Hathaway (NYSE:BRKa) has invested. Buffett spoke at Berkshire’s annual shareholder meeting in Omaha, Nebraska, 1-1/2 months after Berkshire said it raised its stakes in Itochu, Marubeni, Mitsubishi, Mitsui and Sumitomo ...