Comprehensive up-to-date news coverage

HomeNewsBusinessBerkshire Hathaway reports sharp quarterly loss, but operating performance improves

Berkshire Hathaway reports sharp quarterly loss, but operating performance improves

Published on

Follow us on Google News for latest updates and information.

News Tech: Falling U.S. stocks weighed on billionaire Warren Buffett’s Berkshire Hathaway’s second-quarter earnings, but better earnings at insurers and better BNSF railroads helped improve results. Berkshire on Saturday announced a net loss of $29,754 per Class A share. A year ago, the company posted net income of $28.1 billion, or $18,488 per Class A share. Operating income for the quarter increased 39% from $6.69 billion ($4,424 per Class A share) a year ago to his $9.28 billion (about $6,326 per Class A share) rice field.

In contrast, the Omaha, Nebraska-based conglomerate must report investment gains and losses on its holdings, even if it doesn’t buy or sell anything, so its net income is highly volatile. This weighed on the second quarter as Berkshire posted his $53 billion loss from investments and derivatives. Shares of Apple, Bank of America and American Express each fell more than 21%. Buffett tells investors to ignore volatility. In 2020, for example, Berkshire lost about $50 billion in the first quarter as his COVID-19 pandemic took hold, but for the full year he made $42.5 billion.

Berkshire also bought back $1 billion of his stock during the quarter and $4.2 billion of hers this year. It closed in June with $105.4 billion in cash and equivalents. Investors are turning to Berkshire because of Buffett’s strong reputation and the performance of dozens of business units in the insurance, railroad construction, energy and retail sectors, which often reflect broader economic trends.

Latest articles

The Erie School District is no longer on the state’s financial watch list

News Tech: Long-lasting financial trouble for the Erie School District is over. Soon after...

Get Rid of Google Search Suggestions

In this article, we'll show you how Get rid of Google search suggestions. Google...

The Crypto Market Integrity Coalition now consists of Bittrex, Merkle Science and Bitgo

In Science and Space: The Crypto Market Integrity Coalition (CMIC), which had 17...

“The Claman Countdown” with NioCorp CEO Mark Smith will air Monday, October 3, 2022 on Fox Business News

News Tech: On Monday, October 3, 2022, CEO and Executive Chairman Mark A....

More like this

The Erie School District is no longer on the state’s financial watch list

News Tech: Long-lasting financial trouble for the Erie School District is over. Soon after...

Get Rid of Google Search Suggestions

In this article, we'll show you how Get rid of Google search suggestions. Google...

The Crypto Market Integrity Coalition now consists of Bittrex, Merkle Science and Bitgo

In Science and Space: The Crypto Market Integrity Coalition (CMIC), which had 17...

“The Claman Countdown” with NioCorp CEO Mark Smith will air Monday, October 3, 2022 on Fox Business News

News Tech: On Monday, October 3, 2022, CEO and Executive Chairman Mark A....

Change Default Web Browser in Windows 11

Hello everyone, in this article we will show you how Change the default web...

Florida businesses devastated by the storm are working hard to rebuild

News Tech: Hurricane Ian seems to have spared Walt Disney World and other...