Berkshire Hathaway swings to a profit, boosted by massive investment gains | CNN Business

Operating earnings totaled $10 billion in the second quarter, a 6.6% gain from the same period last year. Insurance underwriting and higher investment income helped boost Berkshire’s operating profits. The company posted net income of $35.9 billion after a loss of $43.6 billion in the second quarter of 2022. Berkshire posed $25.9 billion in investment gains last quarter, marking a significant turnaround from a year earlier, when its investments lost $53 billion in the second quarter alone.

Berkshire-owned Geico, one of the largest insurance companies in the United States, is faring better than it did last year, posting an underwriting profit of $514 million in this year’s second quarter. This is a modest decrease from $703 million in the first quarter but a sharp gain from last year’s second-quarter loss of $487 million. Comparatively, the insurance company has had a pretax underwriting profit of about $1.2 billion so far this year, helping to buoy Berkshire\n \n ’s earnings.

الإمارات العربية المتحدة أحدث الأخبار, الإمارات العربية المتحدة عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Berkshire Hathaway’s operating earnings rise nearly 7%, cash pile approaches $150 billionBerkshire Hathaway reported a solid increase in operating earnings, while the cash hoard at Warren Buffett's conglomerate swelled to nearly $150 billion.
مصدر: CNBC - 🏆 12. / 72 اقرأ أكثر »

Warren Buffett's Berkshire Hathaway swings to Q2 profit, operating earnings up 6%Berkshire Hathaway swung to a profit in the second quarter, owed to its investment portfolio and insurance holdings, according to a release out Saturday.
مصدر: MarketWatch - 🏆 3. / 97 اقرأ أكثر »

Tupperware may not go out of business after all | CNN BusinessTupperware was left for dead; a relic of a lost time when leftovers storage had but one dominant market player. So why is its stock up 47% today?
مصدر: cnni - 🏆 326. / 59 اقرأ أكثر »

Papa Johns' prices are driving some customers away | CNN BusinessConsumers are pulling back on discretionary spending, and Papa Johns is taking a hit.
مصدر: CNN - 🏆 4. / 95 اقرأ أكثر »