Warren Buffett’s Berkshire posts bigger loss as stocks fall; operating profit sets record

) on Saturday posted its first quarterly loss in a year as the prices of Apple and other stocks it owns fell, but said improved results from insurance helped boost operating profit to a record.

Its BNSF railroad shipped fewer consumer goods, while lower homebuying hurt its namesake real estate brokerage and building products units such as Clayton Homes. Sales of Forest River RVs and Fruit of the Loom apparel also came under pressure. Jazwares, a toymaker that makes the popular Squishmallows and which Berkshire bought one year ago, helped offset some of the weakness, generating $469 million of revenue in the quarter.Investors watch Berkshire closely because its results often reflect broader economic trends, and because of the 93-year-old Buffett’s reputation as one of the world’s greatest investors.

Berkshire’s $12.77 billion overall loss equaled $8,824 per Class A share, and rose from $2.8 billion a year earlier. Buffett says the volatility is usually meaningless, and Berkshire appears to have kept its Apple stake.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Organigram stock jumps on $124-million investment from tobacco giant BATCannabis company says it will be used in part to create a new strategic innovation fund
Source: globeandmail - 🏆 5. / 92 Read more »

I asked ChatGPT about making an investment in DogecoinChatGPT said Dogecoin's price will reach $1 by the end of 2023. Its on-chart indicators also suggested a price rally.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Hercules Silver jumps on investment from Barrick GoldA roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Barrick Gold increases stake in Hercules Silver with $23.4M investmentTORONTO — Barrick Gold Corp. has signed a deal to increase its stake in Hercules Silver Corp. to more than 10 per cent with an investment of $23.4 million.
Source: SooToday - 🏆 8. / 85 Read more »

Barrick Gold increases stake in Hercules Silver with $23.4M investmentBarrick Gold Corp. has signed a deal to increase its stake in Hercules Silver Corp. to more than 10 per cent with an investment of $23.4 million.
Source: BNNBloomberg - 🏆 83. / 50 Read more »