Warren Buffet's Berkshire Hathaway Q1 operating profit rises 39% to $11.22 billion, net income drops 64% YoY

1 week ago 6

1 min read 04 May 2024, 05:48 PM IST

Berkshire Hathaway Q1 Results: Berkshire's nett income dropped 64 per cent, reflecting overmuch little unrealized gains from its communal banal holdings arsenic the stock terms of Apple declined.

FILE - Berkshire Hathaway Chairman and CEO Warren Buffett smiles during an interrogation successful Omaha, Neb., May 7, 2018. Buffett recommitted to his favourite slope stock, Bank of America, during the archetypal 4th portion dumping 2 different banks arsenic portion of a fig of moves successful Berkshire Hathaway's banal portfolio. Berkshire provided a quarterly update connected its U.S. holdings Monday, May 15, 2023, successful a filing with the Securities and Exchange Commission. (AP Photo/Nati Harnik, File) (AP)

Berkshire Hathaway Q1 Results: Warren Buffett's Berkshire Hathaway Inc announced its archetypal 4th results connected Saturday, May 4, reporting a grounds quarterly profit, boosted by a important summation successful income from security underwriting. The first-quarter operating nett roseate 39 per cent to $11.22 billion, oregon astir $7,807 per Class A share, from $8.07 cardinal a twelvemonth earlier.

Berkshire's nett income dropped 64 per cent, reflecting overmuch little unrealized gains from its communal banal holdings arsenic the stock terms of Apple declined. It besides repurchased $2.6 cardinal of its ain stock.

Net income fell to $12.7 billion, oregon $8,838 per share, from $35.5 billion. An accounting regularisation requires Berkshire to study unrealized gains and losses with nett results, and Buffett urges investors to disregard the resulting volatility.

much to come

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Published: 04 May 2024, 05:48 PM IST