Berkshire's profit plunges 64% on portfolio holdings as Buffett sells Apple
OMAHA, Neb. (AP) — Berkshire Hathaway’s first quarter profits plummeted along with the paper value of its investments, but the company said Saturday that most of the businesses it owns outright performed well.
The company reported reported a $12.7 billion profit, or $8.825 per Class A share, in the quarter. That’s roughly one-third of last year’s $35.5 billion, or $24,377 per A share.
The figures were heavily influenced by a large drop in the paper value of Berkshire’s investments. Buffett encourages investors to pay more attention to the conglomerate’s operating earnings that exclude the investment figures. Operating earnings jumped 39% to $11.222 billion from last year’s $8.065 billion as its insurance companies showed strong results.
On a per share basis, this year’s first quarter operating figure amounts to $7,796.47 per Class A share, beating three analysts’ estimates by FactSet Research, who predicted $6,701.87 per Class A share.
Related articles
Sri Lanka extends demining body's tenure for landmine free nation
(Xinhua) 09:09, February 26, 2024COLOMBO, Feb. 24 (Xinhua) -- The Sri Lankan government has decided2024-06-03Spring Bud Moms Illuminate Girls' Lives
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-06-03Family Does Part to Benefit Society
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-06-03Skilled Craftspeople Turn Decayed Wood into Art
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-06-03Belgrade celebrates Chinese New Year with fireworks, dragon dance
(Xinhua) 09:35, February 10, 2024BELGRADE, Feb. 9 (Xinhua) -- People in Belgrade celebrated the Chin2024-06-03- Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-06-03
atest comment