News Formal

Buffett's Berkshire has bigger loss as stocks fall; operating profit sets record

  • 📰 Reuters
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Warren Buffett's Berkshire Hathaway Inc (BRKa.N) on Saturday posted its first overall quarterly loss in a year as the prices of Apple (AAPL.O) and other stocks it owns fell, but said improvement in its insurance operations boosted operating profit to a record.

Berkshire Hathaway shareholders walk by a video screen at the company's annual meeting in Omaha May 4, 2013. REUTERS/Rick Wilking/File PhotoThough its businesses fared better overall, Berkshire signaled caution about valuations, as its cash stake swelled to a record $157.2 billion in the third quarter, when it sold $5.3 billion more stocks than it bought.

Results included $23.5 billion of losses from investments, primarily reflecting a 12% decline in the stock price of Apple, in which Berkshire had owned a $177.6 billion stake. Operating profit rose 41% to $10.76 billion, or $7,444 per Class A share, from $7.65 billion a year earlier. Berkshire also benefited from a relatively quiet Atlantic hurricane season, which reduced catastrophe losses, unlike in 2022 when it lost $2.7 billion from Hurricane Ian.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Berkshire Hathaway Inc. Cl B stock rises Thursday, still underperforms marketSupported by world-class markets data from Dow Jones and FactSet, and partnering with Automated Insights, MarketWatch Automation brings you the latest, most pertinent content at record speed and with unparalleled accuracy.
Source: MarketWatch - 🏆 3. / 97 Read more »

Berkshire Hathaway Inc. Cl B stock rises Friday, still underperforms marketSupported by world-class markets data from Dow Jones and FactSet, and partnering with Automated Insights, MarketWatch Automation brings you the latest, most pertinent content at record speed and with unparalleled accuracy.
Source: MarketWatch - 🏆 3. / 97 Read more »

Buffett's Berkshire posts loss as stocks fall, operating profit risesBuffett's Berkshire posts loss as stocks fall, operating profit rises
Source: Investingcom - 🏆 450. / 53 Read more »

The Warren Buffett of the Bond Market Has a Warning for InvestorsDan Fuss, the 90-year-old bond market veteran, is concerned about global turmoil and climate change. What it means for your next moves.
Source: MarketWatch - 🏆 3. / 97 Read more »