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Hathaway's quarterly profit of nearly $36 billion: What's Buffett's favorite stock?
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💡Summary: Berkshire's massive cash pile grew to $147.377 billion at the end of June. Q2 net gain from investments and derivatives $25 もっと見る
💡Summary:
Berkshire's massive cash pile grew to $147.377 billion at the end of June.
Q2 net gain from investments and derivatives $25,869 million versus year-earlier $53,038 million loss.
Berkshire Hathaway-About 78% of the aggregate fair value of equity investments concentrated in AMEX, APPLE, BOFA, CHEVRON, and COCA-COLA as of June 30.
Berkshire's class A shares closed on Friday at $533,600, about 2 percent below their record high. The shares are up 14 percent this year, while the S&P 500 index is up 17 percent.

Berkshire Hathaway on Saturday reported a jump in earnings in the second quarter of 2023, recovering from large investment losses a year ago, $10.04 billion of operating profit for the second quarter, surpassing its $9.28 billion haul from the same period last year. The results were largely driven by a 74% increase in insurance underwriting earnings to $1.25 billion, as it trimmed expenses at auto insurer Geico and benefited from its acquisition of underwriter Alleghany Corp.

Rising interest rates and dividend payouts, as well as a rebound in performance at the Geico car insurer, have been helping Berkshire’s insurance businesses generate more money, with profit up 38 percent from the second quarter of 2022. Berkshire cited rising premiums and a reduction in advertising as among the reasons for Geico’s positive results. The quarter was the first to fully include results from the truck stop operator Pilot, in which Berkshire now owns an 80 percent stake. Pilot contributed $114 million to operating profit. However, Berkshire’s energy and freight railroad companies, BHE and BNSF, had a decrease in earnings compared to the same period last year.

🎙️Q:
1. Were you surprised by the earnings results?
2. What's your investment strategy?

View disclosures here.
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