Warren Buffett’s Berkshire Hathaway Inc. said its second-quarter earnings surged 86%, as a rebound in the stock market offset a profit decline in the company’s operations and a large write-down for Precision Castparts Corp.
Berkshire reported second-quarter net earnings of $26.3 billion, or $16,314 per Class A share equivalent, from $14.1 billion, or $8,608 per Class A share equivalent, in the year-earlier period.
The accounting change to include fluctuations in the value of Berkshire’s stock holding in quarterly profits is not only highly misleading but downright foolish.
Unrealized gains from equities, that has skewed financial results, not really representative of Berkshire underlying businesses’ performance
Not from operations but from Fed action. You don’t need a management team for that
WSJ, Since Mitch only wants to WELFARE BILLIONS into Wall Street instead of HELPING Citizens on Main Street, IS HE SENDING THE MESSAGE FOR ALL citizens in dire straights TO BEGIN TO FILE FOR BANKRUPTCY INSTEAD OF FACING FORECLOSURE OR EVICTION? As he had instructed NY to do!
Fundamentals are broken Profits decline, but share values are up?
Precision Castparts has been disappointing - worth less than the 37B purchase price? trengriffin
Laughing all the way to the bank, with Besos, Zuckerberg and Trumps other crooked friends....
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Stocks Flat Despite Better-Than-Expected Jobless ClaimsI am a New York—based reporter for Forbes covering breaking news, with a focus on financial topics. Previously, I wrote about investing for Money Magazine and was an intern at Forbes in 2015 and 2016. I graduated from the University of St Andrews in 2018, majoring in International Relations and Modern History. Follow me on Twitter skleb1234 or email me at sklebnikovforbes.com skleb1234 Stock market goes up Pensions goes down Go figure. skleb1234 An American dies from COVID every 80 seconds.
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