Warren Buffett's Berkshire Hathaway Q2 Operating Profit Climbs Over 15%, Cash Hoard Swells To $277B As It Slashes Apple Stake by Nearly 50%
Warren Buffett's Berkshire Hathaway Q2 Operating Profit Climbs Over 15%, Cash Hoard Swells To $277B As It Slashes Apple Stake by Nearly 50%
Warren Buffett-led Berkshire Hathaway, Inc. (NYSE:BRK) (NYSE:BRK) reported second-quarter net earnings on Saturday that fell year-over-year as a decline in investment gains more than offset an increase in operating earnings. The company's offloading of its stake in tech giant Apple, Inc. (NASDAQ:APPL) continued.
由沃伦·巴菲特领导的伯克希尔哈撒韦公司（NYSE:BRK）（NYSE:BRK）发布了第二季度净盈利报告，与去年同期相比净利润下降，由于投资收益下降而超过了营业利润的增长。公司继续减持科技巨头苹果公司（NASDAQ:APPL）的股份。
Berkshire's Key Q2 Metrics: Second-quarter net earnings fell 15.50% year-over-year from $35.91 billion to $30.35 billion. Operating earnings, which refer to income generated by its portfolio companies, climbed 15.48% to $11.60 billion. On the other hand, gains from its investment portfolio fell 27.52% to $18.75 billion.
伯克希尔的关键Q2指标：第二季度净利润同比下降15.50%，从359.1亿美元下降至303.5亿美元。营业利润（指其投资组合公司创造的收入）增长15.48%，至116亿美元。另一方面，来自其投资组合的收益下降了27.52%，至187.5亿美元。
The fall in the investment gains came amid volatile market conditions. Taking the S&P 500 as a proxy to the broader market performance, the equity market rose 3.92% in the second quarter. The index gyrated between a high and low of 5,523.64 and 4,953.56, respectively during the quarter.
投资收益下降的原因是市场波动。以标准普尔500指数作为整个市场表现的代理，股票市场在第二季度上涨了3.92%。该指数在本季期间的最高和最低点分别为5523.64点和4953.56点。
The 10-year U.S. note yield remained above the 4% level, moving between 4.188% and 4.638%.
10年期美国国债收益率仍高于4%，在4.188%至4.638%之间波动。
The net earnings per Class A share fell from $24,775 in the second quarter of 2023 to $21,122 in the second quarter of 2024.
A类股每股净收益从2023年第二季度的24775美元下降至2024年第二季度的21122美元。
Operating Earnings – Segment-wise Breakdown: Insurance and insurance investment income rose 81.5% and 40.1%, respectively to $2.26 billion and $3.32 billion.
营业利润-按部门分类：保险业务和保险投资收入分别增长81.5%和40.1%，达到22.6亿美元和33.2亿美元。
Operating earnings from freight and railroad operator BNSF slipped slightly at $1.23 billion. Berkshire Hathaway Energy Company earnings and operating income contribution from other businesses declined 16.6% and 3.51%, respectively, to $655 million and $3.38 billion, respectively.
从运输和铁路运营商BNSF的营业利润略有下降，为12.3亿美元。伯克希尔哈撒韦能源公司的营业利润和其他业务的营业利润贡献分别下降了16.6%和3.51%，分别达到65500万美元和33.8亿美元。
Investment Holdings: Disclosure regarding key portfolio holdings show that Berkshire trimmed its core holdings to 72% of its total equity holdings from 79% at the end of the December quarter. Fair value of the company's equity investments was at $284.9 billion compared to $335.9 billion at the end of the first quarter.
投资持仓：关于主要持仓的披露显示，伯克希尔将核心持仓减持至其总权益持仓的72%，而去年12月则为79%。公司股权投资的公允价值为2849亿美元，而第一季度末则为3359亿美元。
The aggregate fairly value of the five core holdings and changes in stake versus the first quarter as follows:
五个核心持仓的公允价值和与第一季度相比的持股变化如下：
End-Q2'24 |
End-Q1'24 |
Change (%) |
|
Apple |
$84.2B |
$135.4B |
-37.8% |
Bank of America, Inc. (NYSE:BAC) |
$41.1B |
$39.2B |
+4.9% |
American Express Co. (NYSE:AXP) |
$35.1B |
$34.5B |
+1.7% |
Coca-Cola Co. (NYSE: KO |
$25.5B |
$24.5B |
+4.1% |
Chevron Corp. (NYSE: CVX) |
$18.6B |
$19.4B |
-4.1% |
2024年第二季度末 |
2024年第一季度末 |
变化（%） |
|
苹果 |
842亿美元 |
1354亿美元 |
-37.8% |
美国银行（NYSE:BAC） |
411亿美元 |
392亿美元 |
+4.9% |
美国运通公司（NYSE:AXP） |
351亿美元 |
345亿美元 |
+1.7% |
可口可乐公司（NYSE: KO） |
$255亿美元 |
$245亿美元 |
+4.1% |
雪佛龙公司（NYSE: CVX） |
$186亿美元 |
$194亿美元 |
-4.1% |
Berkshire began trimming its Apple stake in the first quarter and Buffett said at the annual shareholder meeting that Apple will continue to be its top holding. He attributed the trimming to raise cash during uncertain economic conditions and to foot its federal tax bill.
伯克希尔在一季度开始削减其苹果持股，并在股东年会上表示，苹果将继续是其头寸最大的股份。他将削减股份归因于在不确定的经济条件下筹集现金以支付联邦税款。
Fair value of investments in fixed maturity securities fell slightly to $16.6 billion, down from $17.2 billion at the end of the March quarter.
定期固定收益证券的公允价值略有下降，为166亿美元，而3月季度末时为172亿美元。
Cash Swell: Berkshire's cash and cash-equivalents ballooned to $276.94 billion at the end of the second quarter, up from roughly $189 billion at the end of the first quarter.
现金储备：伯克希尔的现金和现金等价物在第二季度末飙升至2769.4亿美元，而第一季度末约为1890亿美元。
Berkshire Class A shares listed on the NYSE has gained 18.21% for the year-to-date period compared to the 12.83% gain for the SPDR S&P 500 ETF Trust (NYSE:SPY), an exchange-traded fund that tracks the broader S&P 500 Index. They ended Friday's session down 0.86% at $641,435, according to Benzinga Pro data.
伯克希尔哈撒韦公司A类股在纽约交易所上涨了18.21%，而SPDR S&P 500 ETF Trust（NYSE:SPY）只上涨了12.83%，该交易所交易基金跟踪更广泛的S&P 500指数。根据Benzinga Pro数据，周五收盘价下跌0.86%，为641,435美元。