Particle.news
Download on the App Store
9 ARTICLES
·
5h ago

Berkshire Hathaway Profit Jumps, Cash Hoard Sets Record as CEO Transition Nears

Stronger insurance results plus investment gains drove the quarter.

A screen displays Berkshire Hathaway Inc. on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., September 4, 2024. REUTERS/Brendan McDermid
Image
FILE - Warren Buffett, Chairman and CEO of Berkshire Hathaway, speaks during a game of bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Neb., May 5, 2019. (AP Photo/Nati Harnik, File)
FILE - The logo for Berkshire Hathaway Inc. is displayed at a trading post on the floor of the New York Stock Exchange, Wednesday, Aug. 30, 2023. (AP Photo/Richard Drew, File)

Overview

  • Reported net earnings reached $30.796 billion, up about 17% from a year earlier.
  • Operating profit rose to $13.485 billion, exceeding analyst expectations tracked by FactSet.
  • Insurance underwriting profit increased by $1.6 billion to $2.369 billion after a milder hurricane season.
  • Investment holdings added $17.3 billion in paper gains to reported results.
  • Cash and equivalents climbed to a record $381.7 billion at quarter-end after a $9.7 billion OxyChem investment, and the company did not announce share buybacks.