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Berkshire Hathaway operating earnings drop more than expected as Buffett warns of tariff uncertainty

  • Berkshire Hathaway reported operating earnings of $4.6 billion for the first quarter on Saturday in Omaha, Nebraska, marking a significant decline from last year.
  • This drop results from $860 million in insurance losses linked to policies before the Southern California wildfires and a major investment value decline amid tariff concerns.
  • Thousands of shareholders gathered to hear Warren Buffett discuss the impact of tariffs and his decision to hold $347.7 billion in cash as of the quarter's end.
  • Berkshire's earnings were down 14%, with Buffett sitting on a large cash pile, while investors asked about tariffs and cash usage, topics Buffett had earlier avoided addressing directly.
  • The earnings decline and cash accumulation highlight uncertainty in finding attractive investments, and investors anticipate Buffett’s guidance amid ongoing tariff-related market pressures.
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Forbes broke the news in United States on Saturday, May 3, 2025.
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