Berkshire Hathaway operating earnings soar 39% as Buffett's cash hoard swells to record $188 billion

Berkshire Hathaway's operating earnings jumped 39% to $11.22 billion in the first quarter, driven by a significant 185% increase in insurance underwriting earnings. Warren Buffett's conglomerate also saw its cash reserves grow to a record $188.99 billion, highlighting challenges in finding major acquisition targets.

Despite strong operating profits, Berkshire's first-quarter net earnings dropped 64% to $12.7 billion due to fluctuations in stock investments. The company continued its stock buybacks, purchasing $2.6 billion of its shares, and trimmed its stake in Apple by 13%.