Summary by Moomoo AI
On May 4, 2024, Berkshire Hathaway Inc. released its earnings for the first quarter of 2024, which ended on March 31, 2024. The company reported net earnings attributable to Berkshire shareholders of $12.702 billion, a decrease from the $35.504 billion reported in the same period of the previous year. The earnings included $1.480 billion from investment gains, compared to $27.439 billion in the first quarter of 2023. Operating earnings were $11.222 billion, up from $8.065 billion in the prior year. The company also used approximately $2.6 billion to repurchase shares during the quarter. On the same day, Berkshire Hathaway held its annual shareholder meeting, addressing several proposals including the election of directors and shareholder proposals related to environmental and governance issues. The majority of the shareholder proposals were not passed, with the exception of the election of directors, which saw Warren E. Buffett and other nominees receiving substantial support. The company emphasized that investment gains or losses can be misleading indicators of its quarterly performance due to their volatility and the accounting rules that require the inclusion of changes in unrealized gains or losses.