Summary by Moomoo AI
Berkshire Hathaway-A reported a robust financial performance for the first quarter of 2024, with significant growth in insurance underwriting and investment income. Total revenue increased to $89,869 million from $85,393 million in the same quarter of the previous year. The insurance segment saw underwriting earnings rise sharply from $703 million in Q1 2023 to $1,928 million in Q1 2024, with GEICO leading the growth. Investment income also surged from $2,385 million to $3,152 million. Net earnings attributable to Berkshire Hathaway shareholders, however, decreased to $12,702 million from $35,504 million, largely due to a substantial drop in investment gains year-over-year. The company's business development was marked by the acquisition of Pilot, a travel center operator, with full control achieved in January 2024. This strategic move expanded Berkshire's reach in the...Show More
