Berkshire Hathaway’s first-quarter earnings fell more than 53% on a large swing on the paper value of its investments, but Warren Buffett found some ways to put the company’s massive cash pile to work
Two men take a break on a bench during the Berkshire Hathaway 2022 Annual Shareholders Meeting weekend at the CHI Health Center in Omaha, Neb., Friday, April 29, 2022. OMAHA, Neb. — — Berkshire Hathaway's first-quarter earnings fell more than 53% on a large swing on the paper value of its investments, but Warren Buffett found ways to put some of the company's massive cash pile to work, which will give shareholders something to talk about at Saturday's annual meeting.
During the first quarter, Buffett agreed to buy the Alleghany insurance conglomerate for $11.6 billion and made multibillion-dollar investments in HP Inc. and Occidental Petroleum. However, he hasn't disclosed all of his stock purchases yet, so it's not immediately clear what else Berkshire invested in this year
Buffett says that Berkshire's operating earnings are a better measure of the company's performance because they exclude investment gains and losses. By that measure, Berkshire's earnings remained steady at $7.04 billion, or $4,773.84 per Class A share, up from $7.018 billion, or $4,577.10 per Class A share, a year ago.
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