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.
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2025