Berkshire Hathaway's recent earnings report revealed a 4% decline in operating profits, totaling $11.2 billion. This decline stemmed from slimmer profits in insurance underwriting and an $877 million foreign currency exchange loss. The company continues to be a net seller of stocks for the 11th consecutive quarter, selling $6.9 billion worth while only purchasing $3.9 billion. Despite this, Berkshire maintains a record cash pile of $344 billion. The write-down of its stake in Kraft Heinz by about $5 billion further impacted its finances. High valuations have hindered acquisitions.
Berkshire Hathaway reported a 4% drop in operating profits, largely due to currency-exchange losses and reduced insurance profits. The company sold a net $3 billion of stocks, marking the 11th consecutive quarter as a net seller.
Despite a decline in second-quarter earnings, higher income from BNSF Railway and Berkshire Hathaway Energy contributed positively, albeit insufficient to counterbalance the drop caused by slim insurance underwriting profits.
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